MANILA, Philippines — Empire East Land Holdings Inc., owned by tycoon Andrew Tan, will continue to develop projects that will contribute to homebuyers’ overall lifestyle improvement and well-being.
During the company’s annual stockholders meeting yesterday, Empire East president and CEO Anthony Charlemagne Yu said the pandemic prompted Filipinos to aspire for safer and secure homes.
Empire East saw the pandemic as an opportunity to improve the home buying process and highlight accessibility of its developments, which are near transport-oriented developments.
In 2021, Empire East continued to apply and adapt strategies that would allow them to optimize operations and performance as the company treads the road to financial growth and recovery.
The company announced a 52 percent increase in net income to P797.1 million in 2021 from the previous year’s P524.9 million
“Empire East continued to report healthy and steady growth in profit in 2021. Our performance is attributed to optimized costs, new client acquisition, and attractive payment offers for our homebuyers,” Yu said.
The company reported brisk sales on the first two towers of its newest residential development – the 37-tower Empire East Highland City in Felix Avenue, Pasig-Cainta.
“We also achieved P2.69 billion worth of reservation sales for our Empire East Highland City Arcadia Towers 1 and 2, a 25.1 percent increase from 2020’s performance,” Yu said.
The market acceptance of its newest township in Pasig-Cainta prompted Empire East to open its third tower for pre-selling.
Empire East’s residential developments across all projects also contributed to an overall reservation sales of 10.07 billion, a 12.6 percent increase from the previous year.
The company has focused on pursuing its vision of moving communities ahead by building its newest sustainable development in Pasig-Cainta and reaching out to more communities through its corporate social responsibility initiatives.
Yu said Empire East would continue to focus on maintaining affordable prices despite the increasing demand for homes as the country treads toward recovery.