June 9, 2021 (Manila, Philippines) -- Leading real estate developer Empire East is commencing a P25-billion capital spending plan over the next five years as it expects demand for residential properties to increase.
The capital expenditure shall fund Empire East's ongoing and upcoming developments, including the company's largest project to date-- the 24-hectare Empire East Highland City, a high-rise township community situated along Pasig City and Cainta, Rizal.
In the recent Annual Stockholders' Meeting, Empire East President and CEO Atty. Anthony Charlemagne C. Yu announced its future-proof roadmap, including the plans to continue its legacy of providing quality yet affordable homes to more aspiring Filipino homeowners.
"Empire East communities remain resilient and responsive amidst the current adversity," he said.
"If crises prepared us for growth, this pandemic is preparing us for the future. We have announced in recent years that we have lived up to generations as a strong "homebuilder brand" of unparalleled communities throughout the years," Atty. Yu added.
Yu noted that the company expects to enter a new era of growth and is hoping to increase sales and net earnings moving forward.
Twenty-seven years into the business, Empire East has built more than 100 towers and 17,000 condominium units in Metro Manila and 7,700 horizontal lots in Sta. Rosa, Laguna.
In 2020, Empire East reported P4.26B total booked sales, a close to 9% increase from the previous year, while the company's net profit is at P524M.