Property

Empire East acquires P5.1B worth of properties

Bilyonaryo Andrew Tan’s middle-income housing unit Empire East said projects remain in full swing despite the coronavirus pandemic.

Bilyonaryo Andrew Tan’s middle-income housing unit Empire East said projects remain in full swing despite the coronavirus pandemic.

In a statement, Empire East said it secured 427 hectares to boost its landbank worth around P5.1 billion.

The company will continue to launch residential towers within Empire East Highland City, a 24-hectare development along Felix Avenue in Pasig-Cainta, to sustain business growth.

The project will be undertaken in four phases which include the construction of the 8,000-square meter Highland Park which will host retail areas; a 500-seater church, vast gardens, Highland Mall and Highland Residences and a sports club.

Led by a grand ‘Spanish Steps’ from the park, the 58,000-square meter Highland Mall will house luxurious retail establishments.

Highland Residences, on the other hand, involves 37 high-rise residential towers.

Meanwhile, the 6,700-square meter five-Chartered Club will host world-class amenities and sports facilities like swimming pools, multi-purpose court, game room, event halls, café and lounge.

Empire East booked reservation sales of P2.4 billion during the quarantine period
despite the temporary closure of its site and mall showrooms.

“While no company is an exemption to this health crisis as the virus continues to linger globally, it was during this time that Empire East discovered once again the strength of its foundation that brought us sailing steadfastly into a new era of doing real estate business,” said Empire East president Anthony Charlemagne Yu.

Last year, the company saw its net profit rise 15% to P615 million on the back of healthy and stable demand for residential development.

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