From builder to developer: EEI bets big on real estate

Listed construction company EEI Corp. is turning its 139-hectare land bank into the launchpad for its foray into real estate under a diversification gameplay.

In a stock exchange report on Friday, the Yuchengco-led firm said the projects will back the government’s drive for affordable housing, with initial developments lined up in Makati, Quezon City, Bataan, Cavite, and Pampanga.

“Real estate development represents a logical and timely progression for our organization,” EEI President and CEO Henry D. Antonio said. 

“By integrating development into our business portfolio, we strengthen our competitive position, diversify our revenue streams, create additional long-term value, and fulfill our investment commitment for our stakeholders,” he added.

EEI said it will develop quality housing projects across the Greater Manila Area to help address the country’s housing backlog. 

It also plans to launch an Affordable Luxury Micro Condominium in Clark, Pampanga, which it said will go beyond workers’ accommodations by offering thoughtfully designed spaces.

In Cavite, EEI will transform a property into an integrated township with residential and commercial spaces, office buildings, and leisure amenities.

Early this week, the company reported that its project backlog rose 40 percent to P36.85 billion as of July, boosted by new contracts under the South Commuter Railway Project.

The backlog was higher than the P26.39 billion recorded a year earlier, providing stronger revenue visibility after a difficult 2024 when the company incurred losses from provisions related to pandemic lockdowns.

EEI recently secured two contracts under SCRP 07 worth a combined P1.8 billion, covering Earthworks in Banlic, Laguna, and an underpass project. The works will be undertaken with the Lotte-Gulermak-EEI Joint Venture.