Century Properties to acquire Mitsubishi’s stake in PHirst Park Homes, Tanza Properties
Century Properties Group (CPG) has announced it will acquire Mitsubishi Corp.’s 40 percent stake in PHirst Park Homes and Tanza Properties, giving the real estate developer full ownership of the business unit. CPG’s board has approved the transaction.
Launched in 2017 as an affordable housing brand, PPHI is on track to launch 15 projects in the Philippines in partnership with Mitsubishi Corp. in 2023.
“This acquisition is part of the group’s strategic move to consolidate interests in the business segment where the market is robust, allowing us to create more value for our stakeholders, contribute more to serving the needs of our fellow Filipinos for decent, quality and affordable first homes while helping address the huge housing backlog that the administration is working on,” said Jose E.B. Antonio, executive chairman of CPG. “
Mitsubishi Corp. is seeking to expand its market opportunities in both the Philippines and across Asia. The approval of the