The Po family’s Century Pacific Group Inc. (CPGI) has diversified into the affordable housing development to tap opportunities presented by the massive housing backlog in the country.

Through new real estate arm Pacifica Homes Development Corp. (PHDC) led by its president Teodoro Alexander Po, the group launched its first affordable housing project in Magalang, Pampanga called “Hamana Homes.”

“The release of our permits to build [and] sell will allow us to fast-track key developments in the project,” Po said in a press statement on Wednesday.

“It is truly value for money because our project taps sustainable building design and construction techniques, yet is priced within reach,” he added.

The homes are offered at a starting price of P2.04 million to P3.89 million each, depending on the housing type, such as a townhouse, duplex or single-detached.

Lessening the gap

With the Philippine housing backlog expected to hit 6.8 million units this year, based on data from the Congressional Policy and Budget Research Department, the group sees an opportunity to venture into the affordable housing segment.

“PHDC’s very first project here in Pampanga will not only help lessen the gap due to the huge housing backlog, but it would for sure set the bar in the affordable but superior value housing segment,” said Department of Human Settlements and Urban Development Region 3 Officer in Charge Director Felix Brazil Jr.

Brazil said it was high-time that superior and quality shelters inspired by sustainability should be made affordable to customers. He expressed confidence that this project would bring in the trustworthy corporate brand of CPGI, the owners of one of the largest branded food companies in the country.

As PHDC received its license to sell, it likewise obtained its building permit from the municipality of Magalang. Thus, the building activities for housing units at Hamana Homes are now set for full-blast construction.

Po said the new residential development would provide “affordable superior value homes that offer both practical and tasteful living to answer the changing and discriminating needs of the modern Filipino families.”

The Century Pacific Group is the company behind a roster of household names, which include Century Tuna, Argentina, 555, Angel and Birch Tree. It likewise controls Shakey’s Pizza, one of the leading operators of fast casual restaurants in the Philippines, as well as high-end property developer Arthaland Corp.