LISTED real estate developer Empire East Land Holdings, Inc. has earmarked P25 billion in capital expenditures (capex) over the next five years, supported by its 426-hectare land bank to drive sustained growth.
“With a P25-billion capex pipeline over the next five years and a 426-hectare land bank, we are well positioned to lead sustainable growth while offering high-value products in strategic locations,” Empire East President and Chief Executive Officer Anthony Charlemagne C. Yu said during the company’s annual stockholders’ meeting on Tuesday.
Mr. Yu said Empire East, the mid-cost housing arm of Megaworld Corp., remains cautiously optimistic about its growth trajectory amid stable macroeconomic indicators.
“Our view is cautiously optimistic. Macro indicators show stability and the 2025 midterm elections for higher spending and infrastructure momentum, while interest rates remain elevated in the short term, the demand for housing, especially the mid-market segment, remains very strong,” he said.
Mr. Yu said Empire East is not affected by the ongoing condominium oversupply that has impacted the mid-income segment.
“The oversupply perception doesn’t fully apply to end-user-driven developers like Empire East. Our focus is not on speculative, high-turnover units, but on essential housing for working Filipinos and young families, a segment with sustained demand,” he said.
“While some pockets of oversupply exist, especially in investor-heavy and investor-dependent areas, the broader housing backlog and urban migration trends continue to drive strong need for well-located, affordable homes,” he added.
Mr. Yu also said the company sees opportunities amid tariff-related uncertainties.
“The Philippines remains an attractive alternative for supply chain diversification in Southeast Asia, which could spur more BPO (business process outsourcing) expansion and local demand for housing,” he said.
To support affordability and flexibility for homebuyers, Mr. Yu said Empire East is offering new downpayment and extended payment term schemes.
“We also optimize unit layouts and construction timelines to keep pricing competitive without compromising quality, by working closely with banks and offering promo terms during key campaigns,” he said.
For the first quarter, Empire East posted a 7.7% increase in net income to P254.21 million from P236 million a year earlier.
Revenue rose by 11.6% to P1.55 billion, driven by a 0.2% increase in real estate sales to P1.21 billion, led by projects such as Kasara Urban Resort Residences, Pioneer Woodlands, Covent Garden, The Paddington Place, and The Rochester Garden.
Empire East shares rose by 1.94% or P0.002 to close at P0.105 apiece on Tuesday. — Revin Mikhael D. Ochave
