Real Estate Firm studies Expanding to Cebu Province

By Katlene O. Cacho

REAL estate developer Century Properties, Inc. is looking at Cebu as a potential market.
While the company has yet to expand operations to Cebu, an official of the company said they are bullish to get Cebuano buyers to own their units, especially for its two brands: The Milano Residences, whose interiors were designed by Versace Homes, and Azure Urban Resort Residences, whose beach clubhouse will be designed by socialite and hotel heiress Paris Hilton.
“With the intense market competition in the real estate industry, the company thought of bringing popular icons to become part of the project to grab people’s attention,” said Century Properties Inc. global network director Miguel Nolasco in a recent visit to Cebu.
Nolasco said they are introducing their projects to “market-test” Cebu as well as introduce the company and its solid performance in the real estate industry.
Nolasco reported that Hilton’s recent visit to the Philippines to formalize partnership with the company has increased the sales of Azure Residences.
“Local and foreign buyers got interested, which resulted in Azure’s booming sales,” he said.
Azure Residences is a six-hectare resort-inspired residential development with a man-made beach amenity. The project was launched last year and has since sold four out of nine proposed residential towers.

Partnership

Nolasco said that while they also cater to foreign clients, the firm also wanted the local market to take advantage of their offering. He said they consider Cebu as one of the potential areas to get buyers for their projects.
Apart from Hilton, Century Properties also recently partnered with Versace Homes to design the interior of Milano Residences, which is slated for completion in 2015.
The project is the first luxury private residence in Asia designed by Versace.

Published in the Sun.Star Cebu newspaper on September 01, 2011.