Century Properties Group, Inc. (CPG) delivered exceptional results for 2024, reporting a 31% year-on-year increase in net income after tax (NIAT), reaching P2.44 billion compared to P1.86 billion in 2023. Revenues climbed 15% to P14.64 billion, driven by the booming first-home market and sustained momentum in the company’s premium residential segment.
This outstanding performance highlights CPG’s successful pivot to meet the rising demand for affordable housing across the country. The first-home segment saw revenues surge to P9.9 billion, up from P7.4 billion in 2023. The company’s higher-end residential offerings contributed P3 billion, while its leasing and property management arms generated P1.31 billion and P464 million, respectively.
“We are extremely pleased with our 2024 performance, which reflects our focus on operational excellence, successful project completions, and disciplined debt management,” said Marco R. Antonio, President and CEO of CPG. “Our commitment to delivering affordable, high-quality homes has allowed us to meet the strong demand across various market segments. This year also saw us significantly expand our geographical footprint with the launch of multiple projects across North and South Luzon in both the first-home and premium markets. Moreover, we have ventured into the Visayas, bringing our promise of affordable, quality homes to even more Filipino families.”
Antonio emphasized the strategic alignment between government infrastructure investments and CPG’s regional growth plan. “The government’s Infrastructure Flagship Projects, particularly those enhancing nationwide connectivity, will spur growth and drive demand for quality housing across the country. We are well-positioned to leverage these opportunities and fulfill the housing aspirations of Filipino homeowners with our Century-branded developments,” he added.
The company’s strong performance is backed by a solid financial position. Total assets increased by 3%, reaching P55.9 billion, while interest-bearing debt was reduced by 16%, significantly boosting returns. CPG’s 2024 results also marked a major milestone with the achievement of a double-digit return on equity (ROE) for common shareholders, underscoring the company’s robust financial trajectory.
Ponciano S. Carreon, Jr., CPG’s Chief Financial Officer, attributed the strong results to effective balance sheet management, operational efficiencies, and an acute sensitivity to market demands. “The combination of prudent financial stewardship and responsive strategies enabled Century to deliver outstanding financial results in 2024,” Carreon said. “Our healthy financial position and key performance indicators position us well to continue our growth trajectory, providing ample resilience to navigate industry challenges and enhance shareholder value.”
Looking ahead, Carreon expressed confidence in the company’s prospects. “The favorable macroeconomic environment and positive domestic policies provide strong tailwinds for CPG. We are optimistic about our ability to expand through organic growth, strategic acquisitions, and partnerships,” he added.
Building on the momentum of 2024, CPG is sharpening its focus on scale and reach through a dual-engine strategy. By blending affordability with aspirational living in emerging growth corridors, the company is not just building homes but uplifting communities. This strategy capitalizes on the strong performance of CPG’s first-home segment while leveraging the synergies of its premium residential offerings to drive overall growth. With disciplined financial management and an ambitious geographic expansion plan, CPG is well-positioned to capitalize on the next wave of real estate growth in the Philippines.
