Empire East to put up 3 high-rise condos in M Manila

Empire East Land & Holdings Inc., a subsidiary of Megaworld Corp., will put up three high-rise condominium projects in Metro Manila as part of its P2.5-billion capital expenditure program over the next two years.

Empire East president Anthony Charlemagne Yu said the company has identified sites in Quezon City, Manila and San Juan for the projects.

Yu said the company is targeting the middle-income market for its planned condominium buildings.

Funding will come from internally-generated cash and pre-selling activities, he said.

He added the company is also considering entering into joint ventures with land owners to further beef up presence in and outside Metro Manila.

Empire East is also getting ready to expand its residential subdivisions in Laguna to meet the strong demand for housing in the area.

Empire East is a pioneer in self-contained township projects located in Metro Manila and in the suburbs, which cater to the middle-income market. These include its flagship project Laguna BelAir in Sta. Rosa, Laguna; Cambridge Village in the Pasig-Cainta area; and California Garden Square in Mandaluyong City.

Reservation sales for the company’s various ongoing projects reached P3.5 billion in 2005. The volume is projected to grow further this year.

Empire East’s largest revenue earner is Laguna BelAir, whose fast-selling house-and-lot and lot packages have made it the country’s most successful township. Laguna BelAir’s Phases 1 and 2 have only a few units left, while Phases 3 and 4 are almost sold out.

Aggressive marketing activities have also driven the sales of Cambridge Village and California Garden Square. Cambridge Village is a 7.4-hectare community of loft- and flat-type homes in the Pasig-Cainta area.

California Garden Square, on the other hand, comprises 25 medium-rise residential-and-commercial buildings in eight clusters in Mandaluyong City.

Among the company’s completed projects include Greenhills Garden Square in the Greenhills-Quezon City area, and The Xavier Hills in the New Manila-San Juan area.