Empire East Land Holdings Inc., a subsidiary of Megaworld Corp., earmarked P25 billion in capital expenditures over the next five years primarily to complete existing projects and develop more condominiums.
ELI president and chief executive Anthony Charlemagne Yu said Tuesday during the annual stockholders meeting the company was poised to sustain its growth momentum this year amid strong rebound of the real estate industry.
Yu said the company secured prime properties spanning 426 hectares, bolstering its land bank for future development. “Our portfolio is continuously expanding due to the progressing demands of Filipinos aspiring to own a home,” he said.
Yu said the company would continue to focus on developing transit-oriented developments and urban resort projects which saw robust demand.
ELI booked reservation sales of P17.03 billion in 2022, up 70 percent from P10 billion in 2021. It completed and turned over f 1,300 units to new Empire East homeowners.
“At Empire East, 2022 is a year of accelerated growth. Despite the challenges brought about by the pandemic, we triumphantly adapted to the evolving business landscape, positioning Empire East to reach new heights,” Yu said.
