C03441-2018

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
May 16, 2018
2. SEC Identification Number
60566
3. BIR Tax Identification No.
004-504-281-000
4. Exact name of issuer as specified in its charter
CENTURY PROPERTIES GROUP INC.
5. Province, country or other jurisdiction of incorporation
Metro Manila
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
21st Floor, Pacific Star Building, Sen. Gil Puyat Avenue corner Makati Avenue, Makati City Postal Code 1200
8. Issuer's telephone number, including area code
(632) 793-8905
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 11,599,600,690
11. Indicate the item numbers reported herein
Item 9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Century Properties Group, Inc.CPG

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

CENTURY PROPERTIES AND MITSUBISHI CORPORATION ANNOUNCE FORMATION OF A NEW JOINT VENTURE COMPANY FOR AFFORDABLE HOUSING
Background/Description of the Disclosure

CENTURY PROPERTIES AND MITSUBISHI CORPORATION ANNOUNCE FORMATION OF A NEW JOINT VENTURE COMPANY FOR AFFORDABLE HOUSING
[May 16, 2018] Century Properties Group Inc. (PSE: CPG), led by its Chairman and CEO Jose E.B. Antonio today announced the signing of a joint venture agreement with global business enterprise Mitsubishi Corporation to establish a company for affordable housing.
Capitalizing on the country's demand for affordable housing, which has an estimated backlog of roughly 6.6 million units, the new joint venture company will pursue the development of projects of scale in key locations outside of Metro Manila under a new brand called PHirst Park Homes.
The joint venture company (to be named Phirst Park Homes, Inc.) will be incorporated after the Joint Venture Agreement has secured clearance from the Philippine Competition Commission.
The decision to pursue a portfolio of projects through a new company was a brought about by the success of Century’s and Mitsubishi’s initial joint venture project, PHirst Park Homes Tanza in Tanza, Cavite, a 26-hectare project that has a total of 3,000 units in the P1 to 3 million per unit price range. Within eight months of the project’s launch, the company has sold 98% of Phase 1 and 16% of Phase 2. In 2017, reservation sales from affordable horizontal housing amounted to P1.4 billion, largely from its intended market of first-time homeowners, most of whom live and work within the peripheries of the project, and overseas Filipino workers. Within 2018, Phirst Park Homes Tanza is expected to complete already 600 units of town homes and single attached models.
The company is looking to launch projects initially in the CALABARZON and Central Luzon regions. Once it established technical and market scale, it will then expand into the Visayas and Mindanao regions.
Based on current plans, PHirst Park Homes, Inc. aims to launch about 15 projects within the next 5 years with a total of roughly 33,000 units. Each site will be 15 to 20 hectares and it is currently in various stages of land banking. This is equivalent to around P57 billion in Project Sales Value, with capital expenditures estimated at around P10 billion over the first 5 years.


To help achieve its sales target, PHirst Park Homes will leverage on the success of CPG in marketing not just locally, but also in territories where it has established offices such as North America, Europe, Middle East and Asia Pacific.
Under the terms of the agreement, CPG will subscribe to 60 percent and Mitsubishi to 40 percent of the authorized capital stock equivalent to P5 billion over the same 5 year horizon.
In announcing the new venture, ChairmanAntonio said that the partnership comes with great benefits, including a broad scope to grow the business.
“Our joint venture partnership with Mitsubishi Corporation solidifies Century’s plans of diversification and strengthens its positioning not just in the affordable housing category, but in the broader first home buyer market. We thank Mitsubishi for its continued trust and confidence in Century Properties. Our relationship has certainly been fruitful to date with our two projects with them – both for the office building in Century City, and in Tanza, Cavite to date. It is but natural to take it to the next level. We look forward to forming this new company with Mitsubishi and work on many exciting projects that will bring the best value in the market,” said Century Properties Chairman and CEO Jose E.B. Antonio.
Other Relevant Information

Please see attached report
Filed on behalf by:
Name Isabelita Sales
Designation Chief Information and Compliance Officer