EMPIRE East Landholdings Inc. said it has enough landbank to roll out projects in the next five to seven year.
Charlemagne Yu, Empire East chief executive officer, said at Tuesday’s shareholders meeting the company is also open to more acquisitions to beef up its 426- hectare landbank.
“Your company has assets close to P50 billion as of December. We have close to P8.5 billion in trade receivables expected to be collected in due time. We possess 426 hectares of land and remain open to acquiring more properties for development, ensuring sufficient projects for the next five to seven years,” Yu told shareholders.
Yu said Empire East “remains committed to excellence and innovation.”
“The company is constructing 11 towers as of December 2023, and will commence construction for more, totaling 15 towers in simultaneous construction. In 2023, the reservation sales amounted to nearly P24 billion, 41 percent increase from P17 billion. This remarkable achievement reflects the trust you place in our brand and our ability to deliver on our promises,” he added.
Yu noted the past 29 years had Empire East redefining “spaces for authentic living, reshaping the residential development landscape in the Philippines.”
“This is demonstrated by the projects it has completed for the past three decades, with 118 condominium towers in Metro Manila and several subdivisions in South Luzon,” Yu said.
“The company’s forward-thinking strategies have also contributed significantly to its success. Empire East continually monitors shifting real estate trends as well as the needs of homebuyers. By staying responsive to evolving market demands, we sustain our competitive edge and drive sustainable value for the residential segment we cater,” he added.
