Empire East earmarks P25 billion in next 5 years

MANILA, Philippines — Empire East Land Holdings Inc., owned by tycoon Andrew Tan, plans to invest P25 billion for its construction and development activities in the next five years.

The investments are aimed at further solidifying the company’s commitment to meeting all project timelines.

Empire East said it has also secured prime properties spanning 426 hectares to bolster its land bank for future development.

Last year, Empire East spent P3 billion for construction and development activities in to ensure timely delivery of projects.

“Our portfolio is continuously expanding due to the progressing demands of Filipinos aspiring to own a home,” Empire East president and CEO Anthony Charlemagne Yu said.

Yu said Empire East saw accelerated growth last year, with reservation sales hitting P17.03 billion.

The company also achieved 169 percent of its target sales in 2022.

“Despite the challenges brought about by the pandemic, we triumphantly adapted to the evolving business landscape, positioning Empire East to reach new heights,” he said.

According to the company, the completion and turnover of 1,300 units to new homeowners further exemplify its commitment to deliver its developments.

“Our strong and strategic orientation toward customer value has always been the driving force behind Empire East. We understand that our success lies in delivering on our commitments and exceeding the expectations of our valued clientele,” Yu said.

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The article was originally published in PhilStarGlobal and written by Richmond Mercurio