CPG says PHirst will keep 2026 project launch target after merger
CENTURY Properties Group says its affordable housing arm PHirst will retain its 2026 launch target of 10 residential projects and its 2027 expansion strategy following the SEC-approved merger of the two companies. PHirst has ceased to exist as a separate entity, with CPG absorbing its assets and lia
CENTURY Properties Group, Inc. (CPG) expects its affordable housing business, PHirst, to maintain its 2026 project launch target and 2027 expansion strategy following the merger of the two companies, the group's chief financial officer said.
“No changes are expected to PHirst’s 2026 targets or its 2027 expansion strategy as a result of the merger,” CPG Chief Financial Officer Rodel Marqueses told BusinessWorld in an e-mail. “PHirst will remain CPG’s affordable housing platform and will continue to execute its established project pipeline and rollout plans.”
The Securities and Exchange Commission (SEC) recently approved the merger of CPG and its subsidiary PHirst Park Homes, Inc., with CPG as the surviving entity. Following the merger, PHirst ceased to exist as a separate juridical entity, with CPG absorbing its assets, properties, rights, liabilities, and obligations.
Mr. Marqueses said the consolidation is expected to improve capital and resource allocation, generate operational synergies, strengthen financial management, optimise the use of tax assets, and simplify regulatory and tax administration. “Over time, these benefits are expected to support more efficient execution and reinforce the Group’s capacity to scale its affordable housing business,” he added.
PHirst earlier announced plans to launch 10 residential projects nationwide in 2026 as part of its expansion in the affordable housing segment. In its latest update, CPG said PHirst Sights Tayabas had been launched as of Sept. 30, while four additional projects were planned for launch before yearend, subject to regulatory reviews and approvals. The four planned developments include two in Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon), one in Central Luzon, and one in the Davao Region.
The company did not provide a launch schedule for the remaining projects under its previously announced 10-project target. “CPG will continue to sequence launches prudently, taking into account market conditions, approval timelines, and execution readiness,” Mr. Marqueses said. “The company will provide further updates on the balance of PHirst’s previously announced project target as plans are finalised.”
PHirst’s portfolio includes 33 active projects nationwide, with developments in Cavite, Laguna, Batangas, Quezon, Bulacan, Pampanga, Bataan, Nueva Ecija, Bacolod City, and South Cotabato. The company focuses on affordable residential developments, offering turnkey homes and community amenities.
