CPGI folds PHirst into parent

Century Properties Group Inc. (CPGI) is consolidating its first-home residential business under the listed parent after securing regulatory approval for its merger with PHirst Park Homes Inc.

The Securities and Exchange Commission approved the merger, with CPGI as the surviving corporation, allowing the property developer to streamline its corporate structure and integrate PHirst’s operations, assets, and liabilities directly into the parent company.

“This merger advances our goal of building a simpler and more agile listed company,” CPGI President and Chief Executive Officer Marco Antonio said on Wednesday.

“It supports disciplined capital allocation and provides a stronger platform to scale our first-home residential business alongside our diversified real estate portfolio.”

Upon the merger’s effectivity, PHirst will cease to exist as a separate juridical entity, while all its assets, properties, receivables, rights, and interests will be transferred to CPGI.

CPGI will likewise assume all liabilities and obligations of PHirst. Existing creditor rights and liens will not be affected, while pending claims or proceedings involving PHirst may continue by or against CPGI.

PHirst serves as CPGI’s platform for accessible and master-planned residential communities targeting Filipino families.

CPGI expects to improve strategic alignment, governance, and execution while eliminating duplicated corporate functions.

“The combined structure will simplify oversight of capital, resources, tax assets, and compliance,” CPGI Chief Financial Officer Rodel Marqueses said. “Greater visibility over financial performance and more efficient resource deployment should support long-term stockholder value.”