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Century Properties to build 3 New "Cities"

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The Residences at Commonwealth by Century PropertiesCentury Properties Group has entered into a memorandum of understanding between Indonesia’s Bakrie Global, and Revolution Pre-crafted Properties Ltd to build 3 mixed-use property developments – A Media City; A Sports City, and; A Technology Corridor.

Signed on April 28, far away from the tumultuous diplomatic spotlight of the 30th ASEAN Meeting, the memorandum of understanding hopes to increase tourism between the two countries and bring about a bright new age for Asian Media and Technology.  It is the hope of the memorandum that other ASEAN countries would later join the venture.

Under the agreement, the three companies will share technology and capital to create:

  • A Media City. This will have at its heart a state of the art multi-media center encased within a residential and commercial living space.
  • A Sports City. This is envisioned to be several modern sports complexes that the general public may use.
  • A Technology Corridor. This is envisioned to become the “Silicon Valley” of Asia. A place where the country – and the region’s – brightest minds can come together to generate and build future tech.

Century Properties Chair and CEO Jose E.B. Antonio had this to say about the memorandum signing: “I am very pleased to have this framework of collaboration with Bakrie Global of Indonesia to develop the Philippines’ first-ever Media City, Sports City, and Technological Corridor. This kind of synergy will help build the Philippines’ competitive edge as a tourism and hospitality destination with modern media and tech capabilities, as well as open a host of opportunities for business and employment.” 

 

*Photo of The Residences at Commonwealth by Century Properties taken from www.commonwealthbycentury.com