On July 17, the Social Security System (SSS) acquired 740.7 million shares (P0.675 per share) from the controlling Antonio family. The transaction was completed through a P500-million special block sale approved by the exchange.
The purchase, equivalent to about 6.4 percent of CPG, comes as Century’s stock surged around 70 percent since the start of 2025.
CPG finished flat at P0.71 each on Thursday, valuing the property firm at P8.23 billion.
Market expert’s view
Juan Paolo Colet, managing director at China Bank Capital, said the purchase gives SSS exposure to a strong, dividend-paying investment.
“It’s a good move for SSS. At their purchase price of P0.675, the current dividend yield is 7.8%, which is among the highest for listed property developers,” Colet said in a message to InsiderPH.
“Moreover, there is significant upside because CPG is expected to maintain its strong growth trajectory driven mainly by a very profitable affordable housing business under PHirst Park Homes,” he added.
Vote of confidence
“It’s also a win for CPG. The entry of SSS creates a halo effect that could attract other institutional investors to take notice of the company’s promising fundamentals,” Colet said.
CPG, known for its high-end projects including the Trump Tower Manila, found success in its diversification into affordable housing via PHirst.
In the first quarter alone, Century posted a 16 percent rise in net income to P473 million, with its PHirst housing brand contributing 60 percent of revenues.
Last June, Century announced a major dividend policy upgrade by doubling its regular payout to 20 percent of 2024 net income and declaring a 5 percent special cash dividend for 2025.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
