Empire East Land Holdings Inc. said it expects to spend P25 billion in the next five years to grow its business.
Last year, the company spent P3 billion for construction and development activities, said Charlemagne Yu, Empire East president.
Yu said Empire East has secured 426 hectares of prime properties for future development.
The planned spending aims to sustain the company’s activities as it works to deliver P17.03 billion worth of units it sold last year, Yu added.
The amount is 69.01 percent higher than the prior year’s P10.07-billion reservation sales.
Last year, Empire East netted P715.37 million, down 10.3 percent from P797.09 million in 2021. Revenues reached P4.71 billion, up 4 percent from P4.53 billion the prior year.
Empire East said last year’s sales were 169 percent above its target, showcasing the company’s “ability to capitalize on market opportunities and deliver exceptional results.”
Yu said through Empire East’s 29 years in the business, it has delivered homes to 23,446 “satisfied” homebuyers.
