Century Properties Group, Inc. (CPG) has secured approval from the Securities and Exchange Commission for its merger with PHirst Park Homes Inc., bringing the company’s first-home residential business directly under the listed property developer.
Under the approved merger, Century Properties will remain as the surviving corporation, while PHirst Park Homes will cease to exist as a separate legal entity once the transaction takes effect. All of PHirst’s assets, properties, receivables, rights and interests will be transferred to Century Properties, which will also assume the company’s liabilities and obligations.
The merger is part of Century Properties’ broader corporate restructuring efforts aimed at simplifying its operations, improving resource allocation and reducing duplicated functions across the group.
Century Properties President and Chief Executive Officer Marco Antonio said the consolidation is intended to create a simpler and more agile listed company while providing a stronger platform for expanding its first-home residential business alongside its other property segments.
The company said bringing PHirst directly under the listed parent is expected to improve strategic alignment, governance, transparency and execution. It will also allow the group to have greater visibility over capital, resources, tax assets and compliance.
PHirst Park Homes has become an important part of Century Properties’ residential business, particularly through its horizontal housing developments designed for Filipino families looking for complete and planned communities.
The merger comes as the first-home residential segment continues to serve as a major contributor to Century Properties’ overall business. During the first half of 2026, PHirst Residential accounted for about 73% of the group’s consolidated revenue and posted 7% year-on-year growth, according to company disclosures.
Century Premium contributed around 16% of consolidated revenues during the same period, while commercial leasing and property management provided additional recurring income streams.
The company has also continued to allocate substantial capital toward property development. Century Properties set aside ₱12 billion in capital expenditures for 2026, matching its allocation from the previous year, as it continued to expand its residential portfolio.
The integration of PHirst is expected to give Century Properties greater control over the development and allocation of resources across its residential projects while keeping the business within a single corporate structure.
For PHirst, the merger means its operations and assets will become directly integrated into Century Properties rather than remaining under a separate corporate entity. Existing creditor rights and liens will not be affected by the transaction, and pending claims or proceedings involving PHirst may continue against or by the surviving corporation.
With SEC approval now secured, Century Properties can proceed with the formal effectivity and integration of the merger. The consolidation marks another step in the property developer’s effort to streamline its corporate structure while expanding its presence in the Philippine residential market.
