Empire East continues to transcend challenges, unveils future plans

Real estate developer Empire East Land Holdings, Inc. looks back to its achievements in the past year and reveals its plans for future developments as it celebrates its 30th year in the industry.

In an annual stockholders' meeting recently held online, Empire East President and Chief Executive Officer Atty. Anthony Charlemagne C. Yu reported the company’s notable progress in the previous year. “Empire East remains committed to excellence and innovation. Despite external difficulties, our company continues to thrive, driven by a vision of sustainable growth and dedication to our stakeholders,” he stated.

Despite constantly facing challenges in 2023, Empire East demonstrated resilience and has consistently overcome obstacles. Yu reported an impressive surge in reservation sales amounting to nearly P24 billion, which is a 41% year-on-year increase compared to the P17 billion recorded in 2022.

One of the main reasons for Empire East’s success is the confidence and support given by its stakeholders. “Over 29 years, your partnership has been instrumental in our quest to redefine spaces for authentic living, reshaping the residential development landscape in the Philippines,” Yu said during the meeting. 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.

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 in Metro Manila and beyond. "By staying responsive to evolving market demands, we sustain our competitive edge and drive sustainable value for the residential segment we cater," Yu stated.

Moreover, Empire East could not have achieved such remarkable success without its employees. Yu recognizes them throughout his remarks. "To our dedicated workforce, I extend my deepest gratitude for your tireless efforts," Yu said. “Your fortitude to exceeding expectations and driving innovation has been instrumental in our journey toward success. Each of you plays a vital role, and we are truly grateful for your contributions.”

One of the company's distinguishing characteristics is its ability to face risks and problems and transform them into opportunities to reshape the real estate market. As a showcase of its commitment to creating innovative real estate developments, it intends to invest at least P25 billion in capital expenditures over the next five years.

Currently, it is constructing 11 towers as of 31 December 2023, and will commence construction on four more, totaling 15 towers. In addition, Empire East currently holds 426 hectares of land bank and is willing to acquire more for future development to ensure sufficient projects.

Yu also disclosed the progress in some of Empire East’s ongoing projects, highlighting the completion of The Rochester’s Bridgeview Tower and Kasara Urban Resort Residences Tower 3. These milestones underscore the company’s commitment in delivering quality homes to Filipinos, which are also a testament to the collective support by all its stakeholders.

Beyond providing homes for Filipino families. Empire East is also dedicated to sustainable growth. To demonstrate that it embodies environmental, social, and governance (ESG) principles, the company has introduced groundbreaking initiatives such as the "Highland Forest" and "Scouts Zone” which help in upgrading the communities and lessening negative impacts on the environment.

“As we traverse uncertain waters, rest assured we remain committed to delivering value and driving sustainable growth. Together, we will weather the storms and emerge stronger, fortified by our collective resilience and determination,” Yu ended his address, reaffirming the company’s dedication to facing challenges head-on. Through its adaptability, innovative offerings, and customer-centric approach, Empire East will continue to transcend risks and uncertainties, and ensure its sustained success in the year ahead.