Construction firm EEI Corp. said Friday is expanding into real estate development, capitalizing on its 139-hectare land bank in key locations.
It said the move marks a significant milestone in its long-term strategy to evolve into a fully integrated property and infrastructure developer.
EEI said in a statement its real estate diversification positions the company as a forward-looking, diversified entity that goes beyond its reputation in construction and engineering.
It said that by diversifying into real estate, it aims to capture greater value across the property lifecycle, leveraging its extensive construction expertise, robust project management capabilities and established industry relationships.
The company said it is preparing an initial pipeline of real estate projects in Makati, Quezon City, Bataan, Cavite and Pampanga, to be undertaken with the same commitment to quality that has characterized EEI’s construction track record.
“This endeavor is part of the company’s long-term strategy to strengthen and expand its role in nation-building, not only in infrastructure but in providing housing solutions to a mass number of people who currently do not have access to proper, dignified, and comfortable housing accommodations in the metro and neighboring provinces,” said EEI president and chief executive Henry Antonio.
EEI said that in support of the government’s push to address the housing backlog, it would also develop quality housing projects in various prime locations within the Greater Manila Area.
EEI said it would also develop an affordable luxury micro condominium (ALMC) in Clark, Pampanga. The project’s vision is to create a living environment with thoughtful spaces that go beyond a workers’ accommodation facility.
It said that in Cavite, it is set to transform a property into an integrated township that will house residential and commercial spaces, office buildings, and sports, leisure, and entertainment amenities.
“Real estate development represents a logical and timely progression for our organization. By integrating development into our business portfolio, we strengthen our competitive position, diversify our revenue streams, create additional long-term value, and fulfill our investment commitment for our stakeholders. It also supports our sustainability commitment by providing socialized, decent, and sustainable living spaces for our people,” Antonio said.
“Diversifying into real estate development is consistent with our long-term vision of becoming a fully integrated industry leader. We remain committed to delivering sustainable growth, enhancing shareholder value, and contributing to nation-building,” said Toni Venette Picar, EEI vice president for corporate finance and new business development.
