Century Properties Group Inc. (CPG) said the Social Security System (SSS) increased its stake in the listed property developer to about 9.9% from 6.4% after acquiring 406.47 million additional common shares through a block sale, according to a BusinessWorld report.
In a regulatory filing on Wednesday, CPG said the SSS acquired the shares from the company’s majority shareholder at P0.665 per share. The transaction raises the state pension fund’s ownership to just shy of the 10% threshold that would require a separate disclosure of substantial shareholdings under Philippine stock exchange rules.
The increased stake signals continued institutional interest in the Philippine property market, which has been recovering amid steady demand for residential and office space. CPG, known for developments such as Century Spire and Trump Tower Manila, is one of several listed developers drawing strategic investments from large local funds.