Empire East Land Inc. reported Wednesday that its net income for the first nine months of 2026 fell 26 percent to P452.89 million, down from P618.05 million in the same period a year earlier, dragged down by lower consolidated revenues. Total revenues declined 18 percent to P3.23 billion from P3.94 billion, led by a 27 percent drop in real estate sales to P2.06 billion across its portfolio of projects. Finance income also decreased to P286.35 million from P494.1 million, though commissions and other income rose to P875.39 million from P624.27 million, helping offset some of the decline. Cost of sales fell to 50 percent of real estate sales from 59.3 percent, reflecting shifts in the mix of properties sold. Operating expenses rose to P1.34 billion from P1.17 billion, while finance costs dropped to P236.15 million from P271.02 million. Despite the lower earnings, the company maintained strong liquidity, with current assets rising to P44.12 billion, representing about 86 percent of total assets. Management said the company remains financially stable, relying mainly on internally generated funds plus some borrowings to finance project development, loan repayments and day-to-day operations.
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Property
Filinvest Land starts Futura Monte turnover in Naga
Filinvest Land Inc. (FLI) has officially begun handing over completed units at its Futura Monte development in Naga City, a key milestone for the firm’s regional expansion. The ceremonial turnover for Building A was held recently at the project’s clubhouse, with qualified buyers now receiving their units. FLI officials said the handover reaffirms the company’s commitment to delivering quality homes in well-connected communities, with succeeding turnovers to follow as more units become ready for occupancy.
Executive Profile
Small frame, big belief in small business
Tessie Sy-Coson was just eight when she became a shoe salesgirl during the Christmas rush. Her small frame may have made her an unlikely salesperson, but the experience taught her an early lesson about business: everyone has something to contribute.
Energy & Mining
Indonesian sovereign wealth fund links up with Vena Global Group in renewable energy projects in PH and Indonesia
Indonesia’s sovereign wealth fund, Indonesia Investment Authority (INA), has entered a strategic partnership with global renewable energy developer Vena Global Group Pte. Ltd. to invest in a 2,800-megawatt portfolio of renewable energy projects spanning Indonesia and the Philippines, the firms announced Wednesday.
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