Empire East Land Holdings, Inc., a unit of Megaworld Corporation, remains optimistic as it reported an 8.3 percent improvement in total booked sales to P4.26 billion last year even though net income was pulled down to P524 million by the pandemic.
“Our performance for the year still indicates the resiliency of Empire East and its stakeholders amid these troubled times,” said Empire East President and CEO Anthony Charlemagne C. Yu during the firm’s annual stockholders’ meeting.
The company noted that, “Amid the shifting priorities of the mid-market, there remains an increasing demand for real estate properties as an investment and for safer, nature-rich homes for end-users.”
Empire East said it met these demands and adapted to the needs of the market by launching attractive deals for its pre-selling and ready-for-occupancy (RFO) developments, offering flexible payment terms.
“This developer’s tried and tested strategy is reminiscent of its bold abolishment of down payments during economic crises in the past – saving the business from ruin while serving the needs and renewing the trust of its market,” the firm added.
Yu said that, “Since the announcement of the quarantine last year, most of our projects have proven their resilient and sustainable value, allowing spontaneous Bayanihan while adhering to strict safety protocol.”
“These events attest to our communities’ strength in design and concepts that foster meaningful lifestyles for our dwellers. In return, we capture the aspirations of new customers,” he added.
Despite the pandemic, Empire East delivered 2,200 units worth more than P9 billion last year.
For this year, the firm launched Empire East Highland City, which is now on its pre-development selling stage, paints healthier, safer, more eco-friendly homes for its future dwellers.
This 24-hectare township boasts of 37 high-rise residential towers with access to an open green park, a luxurious shopping mall, and a membership-only recreation club.
But apart from these grand phases, this development will also adopt sustainable features that prioritize energy conservation, water and waste management, and the promotion of walkable and bikeable lanes for residents to contribute in the lessening of carbon footprint.
Empire East also actively promotes its communities in other flourishing cities like the four-tower “modern cosmopolitan enclave” The Paddington Place in Mandaluyong City, and a two-tower serene community in San Juan City, the Mango Tree Residences.
The company has a land bank with P5.1 billion worth of properties, with an aggregate area of 427 hectares, making room for more innovative projects in this new era of growth.
Article and Photo originally posted by Manila Bulletin last June 8, 2021 3:35pm and written by James A. Loyola.
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