EMPIRE EAST STOCKHOLDERS MEETING: Empire East Land Holdings Inc. chairman Andrew G. Tan (center), director Kevin Andrew L. Tan (left) and president Charlemagne C. Yu listen intently to a query from a stockholder during the company’s annual shareholders meeting at Eastwood City yesterday.
MANILA, Philippines - Empire East Land Holdings Inc., the mid-cost real estate developer of property tycoon Andrew L. Tan, is warming up to the idea of tapping bank loans to help finance its P25-billion five-year spending program after staying debt free for many years.
In an interview on the sidelines of the company’s annual stockholders meeting yesterday, Empire East president Anthony Charlemagne Yu said the property firm may consider bank financing given the prevailing attractive interest rates.
“There are banks asking if we want to have loans and we’re looking into it because the loan rate is so low,” Yu said.
“For many years we have not availed of any bank financing. However, that does not mean that we are excluding ourselves from going that way, to do some bank financing. The business climate is so good and there are so many good business opportunities. We want to continue developing more projects and for this reason we are not discounting the possibility of obtaining bank loans in order for us to tap this low interest rate regime,” he added.
Empire East announced last year a five-year expansion program that would involve P25 billion in investments.
The aggressive expansion is being undertaken by the company to take advantage of robust demand from the middle income segment.
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“To be able to deliver our projects within the commitment timetable, we spent P3.45 billion for construction and development activities in 2014. We expect to pour P5 billion into such activities this year, as we make sure that work on our new and ongoing communities progresses at a steady pace,” Yu said.
For this year, the company plans to launch two mixed-use developments in a 23-hectare lot in Pasig City and in a 1.7-hectare property in Quezon City where Broadway Centrum is currently located.
For its Pasig project, Yu said the property would be developed into a masterplanned city bigger than Megaworld’s Eastwood township in Libis.
The Quezon City property, meanwhile, will feature a four-story lifestyle mall and four residential buildings.
“We’re studying if we should have office or BPO buildings in those developments. We’re not sure yet. But residential and commercial are already sure,” Yu said.
He said Empire East is also actively pursuing expansion outside Metro Manila by scouting for available land.
“As long as there is a good property, we will acquire. We are actively looking for suitable sites outside Metro Manila. We have gone to see a lot of properties outside Metro Manila. But location is everything, it’s important we get the correct site but we will go there. We will definitely tap other markets outside Metro Manila,” Yu said.
Last year, Empire East said its reservation sales hit P22 billion, one of the highest in the industry.
Net income of the company and its subsidiaries also surged 61.3 percent to P484.5 million in 2014 from P300.4 million the previous year.
“Everything seems to be on the upward movement, all indicators show that we could exceed what we had last year,” Yu said.
Empire East CEO & President Talks about Ph. Landscape Transformation
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MANILA, Philippines — Empire East, renowned real property developer in the metro, transforms the city landscape as it brings a slice of London in Sta. Mesa, Manila, with the rise of its newest residential development, the Covent Garden.
Incorporating the international charm of London’s renowned tourist attraction, Covent Garden serves as a modern landscape that breathes life and color into the culturally rich vicinity of Manila. A vicinity that was once proudly owned by the old-rich Filipinos and ran by the discerning elite is now restoring its momentum to be one of the most luxuriant cities – running after, and even exceeding the ebullience of its neighboring hubs.
“Once this project progresses, everyone will see a different part of Sta. Mesa. Being a strategic location, all it needs is a development ready to cater to the first class lifestyle.”, says Empire East President Atty. Anthony Charlemagne C. Yu.
Covent Garden is located at 3880 Santol Ext., Brgy. 587 Sta. Mesa, Manila – boasting with two high-rise towers that are filled with available executive studio, one bedroom, two bedrooms, and bi-level living spaces. Because of its closeness to the LRT2 stations that instantly connects to the university belt and the Central Business Districts, it is being considered as an ideal residence for students and working professionals alike.
Read more: http://business.inquirer.net/183018/manila-turns-luxurious-with-the-rise-of-london-themed-condo#ixzz3PByccK10
Looking for your ideal home can be very tricky, there are factors to consider before you can decide on which home to invest in. You may want to live in an exclusive community but still have the ability to access different leisure and business hubs. This is the reason why location is the most crucial factor when seeking for the right home.
1. Reach endless shopping districts in a snap
If you are the type of person who likes to keep up with the latest fashion trends, it is ideal to live nearby the Makati CBD or Bonifacio Global City. There are countless fashion boutiques to shop from, ranging from novelty items to designer clothing- the selections are endless! You can count on malls and bazaars as that in Market! Market!, SM Aura, Greenbelt and Glorietta.
2. Near the city’s best restaurants and myriad food choices
You love to explore flavors of food for your palate, and you always want to try the newest restaurants in town. Find a home near the Makati CBD, Bonifacio Global City and Eastwood City, where there is an extensive variety of bistros, gastronomic pubs and restaurants such as Mad Marks Creamery and Good Eats, Harvest Gastro Pub and 100 Revolving Restaurant.
3. Close to top schools and Central Business Districts!
Students and business professionals need not worry about the tedious traffic when you are within the vicinity of your destination. Find ultimate convenience when living within the realm of Ortigas CBD, Eastwood City, Makati CBD and Bonifacio Global City. Shorten your commute or drive to work, or have more time to spend studying by making it home earlier.
4. Satisfies everyone’s lifestyle choices
A home situated in a prime location is a great investment one can ever have. It would be convenient for each dweller to settle in a home that has the ability to serve their different needs. It may be a shopping trip, a dinner out with friends or finding a nearby school for your child.
Alas, find all these advantages within your reach! Come home to an exclusive, stylish community to call your own. The Rochester in San Joaquin, Pasig City is within the vicinity of major districts that you need in your daily life.
The Rochester lets you enjoy living in its stylish suites of 1 BR, 2 BR, 3BR and bi-level, while you stay close to all the retail centers, restaurants and key business districts in the vicinity. Recently, its newest tower, Bridgeview, was launched along with freshly opened units for the taking! For more information about The Rochester, call 0906-4110688 . You may also visit www.empireeastrealproperties.com/the-rochester.html.
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