Empire East Landholdings Inc., the residential development subsidiary of property giant Megaworld Corp., is earmarking at least P25 billion for capital expenditures over the next five years.
This substantial investment will facilitate the construction of a minimum of 15 residential towers and the acquisition of additional land for future development.
Currently, Empire East is in the midst of constructing 11 towers, with plans to commence work on four more in the coming months. With an existing land bank comprising 426 hectares, the company is actively seeking opportunities to expand its portfolio through more land acquisitions.
Under the leadership of lawyer Anthony Charlemagne C. Yu, president and chief executive officer of Empire East, the company has demonstrated a steadfast commitment to delivering quality homes to Filipino families. Recent completions, including The Rochester’s Bridgeview Tower and Kasara Urban Resort Residences Tower, underscore Empire East’s dedication to meeting the evolving needs of its stakeholders.
Yu said that Empire East is not solely focused on providing homes but prioritizing sustainable growth. Through initiatives such as the “Highland Forest” and “Scouts Zone,” the company aims to enhance communities and mitigate environmental impacts, reflecting its broader commitment to responsible development practices, he said.
Despite encountering challenges in 2023, Yu said Empire East experienced a remarkable surge in reservation sales, reaching nearly P24 billion—a 41 percent increase compared to the previous year.
This performance underscores the company’s resilience and ability to thrive amidst adversity, further solidifying its position as a key player in the Philippine real estate landscape, he added.
