Property

Century-Mitsubishi housing venture PHirst Park to spend P550M for Batulao project

PHirst Park Homes Inc. will spend about P550 million to convert a 30-hectare property in Batulao, Batangas into an affordable housing development project.

PHirst Park Homes Inc. will spend about P550 million to convert a 30-hectare property in Batulao, Batangas into an affordable housing development project.

In a statement, PPHI president Ricky Celis said the Nasugbu project would be launched in the first quarter of 2020, but initial selling for the first 13 hectares with 1,021 units would start this month.

“Before we end the year 2019, we achieved another milestone as we acquired one of the prime properties in Nasugbu, Batangas. We are very much excited for the opportunities to develop this into a showcase community,” he said.

Celis said the master plan design would be more distinctive compared to other PHirst Park Homes brand by introducing new components in the project, such as a commercial center and new eco-friendly house models.

“Future residents will get to experience a world-class development at an affordable price point,” he said.

Through a joint venture company of Century Properties Group with Japan’s global business enterprise Mitsubishi Corp., PPHI has launched five projects that cover a total of 91 hectares and 8,799 units valued at P14.4 billion.

These are the 26-hectare PHirst Park Homes Tanza (Cavite), the 20-hectare PHirst Park Homes Lipa (Batangas), the 18-hectare PHirst Park Homes San Pablo (Laguna); 11-hectare PHirst Park Homes Pandi (Bulacan); and nine-hectare PHirst Park Homes Calamba (Laguna).

The company is expected to roll out 10 more out of 15 master-planned communities in north and south Luzon with 33,000 homes by 2023 to help address the country’s 6.6 million housing backlog

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