Century Properties Group, Inc. completed the acquisition of remaining 40% stake in PHirst Park Homes, Inc. from Mitsubishi Corporation.
November 23, 2023
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Century Properties Group, Inc. (PSE:CPG) agreed to acquire remaining 40% stake in PHirst Park Homes, Inc. from Mitsubishi Corporation (TSE:8058) on May 30, 2023. Under the terms, Century Properties shall acquire 1.06 billion common shares and 0.27 million Preferred B shares. In a related transaction, Century Properties Group, Inc. also agreed to acquire remaining 40% stake in Tanza Properties, Inc. from Mitsubishi Corporation on May 31, 2023. Following the acquisition, Century Properties Group, Inc. will acquire full ownership of PHirst Park Homes, Inc. The acquisition was approved by Century Properties Group?s (CPG) Board of Directors. The acquisition is subject to agreed conditions precedent and credit and regulatory approvals, including the Philippine Competition Commission.
Century Properties Group, Inc. (PSE:CPG) completed the acquisition of remaining 40% stake in PHirst Park Homes, Inc. from Mitsubishi Corporation (TSE:8058) on November 24, 2023.
Century Properties Group, Inc. is a Philippines-based real estate company, which is engaged in the development and construction of residential and commercial real estate projects. The Company is primarily involved in the development, marketing, and sale of mid- and high-rise condominiums and single detached homes, leasing of retail and office space, and property management. The Company operates through three segments: Real estate development, Leasing, and Property management. The Real estate development segment is engaged in sale of high-end, upper middle-income and affordable residential lots and units and lease of residential developments under partnership agreements. The Leasing segment is engaged in the lease of the Companyâs retail mall. The Property management segment facilities management of the residential and corporate developments of the Company and other third-party projects, including provision of technical and related consultancy services.
CENTURY PROPERTIES GROUP, INC. 
