CPG keeps PHirst expansion plans on track after merger approval

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CPG, PHirst expansion after merger

Highlights

CPG's merger with subsidiary PHirst Park Homes received Securities and Exchange Commission approval, with CPG absorbing all PHirst's assets and liabilities.
PHirst maintains its 2026 target to launch 10 residential projects, having already launched PHirst Sights Tayabas and planning four more by year-end pending regulatory approval.
CPG expects the consolidation to enhance capital allocation, operational efficiencies, and financial management to support scaling its affordable housing business nationwide.

Merger approval and project pipeline

As reported by BusinessWorld Online, CPG Chief Financial Officer Rodel Marqueses says the merger does not alter PHirst’s 2026 targets or its 2027 expansion strategy. He says PHirst remains the group’s affordable housing platform and continues to execute its established pipeline and rollout plans.

The Securities and Exchange Commission recently approved the merger of CPG and subsidiary PHirst Park Homes, with CPG as the surviving entity. After the merger, PHirst ceases to exist as a separate juridical entity, and CPG absorbs its assets, properties, rights, liabilities and obligations.

PHirst earlier announced plans to launch 10 residential projects nationwide in 2026 as part of its affordable housing expansion. In its latest update, CPG says PHirst Sights Tayabas has been launched as of Sept. 30, while four more projects are planned before yearend, subject to regulatory reviews and approvals.

The upcoming developments include two in Calabarzon, one in Central Luzon and one in the Davao Region. The company does not provide a launch schedule for the remaining projects under the previously announced 10-project target.

Affordable housing scale-up and regional footprint

Marqueses says the consolidation is expected to improve capital and resource allocation, create operational synergies, strengthen financial management, optimize the use of tax assets and simplify regulatory and tax administration. Over time, he says these changes should support more efficient execution and reinforce the group’s ability to scale its affordable housing business.

CPG says it will sequence future launches prudently, taking into account market conditions, approval timelines and execution readiness. The company adds that it will provide further updates on the balance of PHirst’s previously announced project target once plans are finalized.

PHirst’s portfolio includes 33 active projects across Cavite, Laguna, Batangas, Quezon, Bulacan, Pampanga, Bataan, Nueva Ecija, Bacolod City and South Cotabato. The brand focuses on affordable residential developments, offering turnkey homes and community amenities nationwide.

In our earlier report on planned Philippine sovereign bond reforms and index inclusion, we explained how changes to pricing conventions and benchmark entry could broaden the investor base and improve liquidity. We also noted that these market upgrades alone don’t guarantee stronger business investment, since outcomes still hinge on global rates, fiscal credibility, and wider reforms that deepen domestic capital markets and lower financing frictions for companies.

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