Listed property developer Century Properties Group Inc. will be spending $4.4 million in capital expenditures for the development of Phase 1 of its residential, retail, and leisure project in Batulao, Batangas.
Phase 1 of the project will cover 36 hectares and will include a public area that features a retail village, a market square and a commercial center with merchandise on the ground level and residential spaces on the upper floors.
The exclusive areas within the property, on the other hand, include a country club with lagoons, man‐made beach cove, lake, spa, specialty restaurant, chapel, banquet hall and pavilion, swimming pools, sports courts and water sports amenities.
The entire development will be completed in phases and covers a total of 142 hectares. The property is located in a hilly section of Batulao, located southwest of Metro Manila right after Tagaytay City and on the way to the beaches of Nasugbu, Batangas.
Century Properties said the development is part of its expansion in key growth regions outside of Metro Manila, as well as its move to diversify its portfolio into recurring income revenue sources.
“Our Batulao project will become a new destination that will give you reasons to stay for a meal, a weekend, or permanently as a resident. The boundaries of Mega Manila are now expanding to include transformative suburban communities that promote a progressive way of life in harmony with nature. This development will further expand our offering to the market and will give immense value to our shareholders,” said Tim Hallett, chief operating officer of Century Properties for Hospitality and Project Head.
Early this year, the firm launched the 8‐hectare Azure North community in San Fernando, Pampanga, its first integrated mixed‐use development outside of Metro Manila with residential towers, retail and a planned office complex.
From its public listing in 2012 up to the year 2019, Century Properties targets the completion of a total of 31 buildings.
“We look forward to announcing more details of our Batulao project soon and our new and exciting developments in 2015,” Hallett said.