Stock News 2012: Century Properties pre-sells 20% of condo

Century Properties Group (CPG) has already pre-sold 20 percent of the 645-unit Acqua Livingstone, the first residential building designed by upscale fashion brand Missoni around the globe.

Livingstone is the fourth tower to rise in CPG’s six-tower Acqua Private Residences riverside project in Mandaluyong City, which is estimated to generate total sales of around P15 billion.

The new tower, which follows the brisk sellout of the first three – Niagara, Sutherland and Dettifoss – is now 20-percent sold in just a few weeks since its launch. The entire Acqua Private Residences project is estimated to cost about P7 billion.

CPG managing director Marco Antonio said the company expects to sell out the entire Livingstone tower within the year due to the market’s robust reception.

“At the current pace, we can sell everything in a few months. It depends on the appetite of the market,” he said.

Livingstone will be kitted out in Missoni’s trademark striped designs and flamboyant colors. Unit sizes range from 27 square meters to 140 sqm, with a selling price of an average of P145,000 per sqm.

“We were fascinated by the project, very hi-tech and modern. Century Properties’ culture of passion, creativity and quality proved the perfect fit,” said Vittorio Missoni, marketing director and shareholder of Italy’s Missoni S.p.A.

http://www.philstar.com/Article.aspx?articleId=785117&publicationSubCategoryId=66