Manila, Philippines - The Andrew Tan-led Empire East Land Holdings
Inc. grew its first semester earnings 36.65 percent to P66.29 million on higher
real estate sales and finance income.
Consolidated revenues, composed of
real estate sales, finance income, commissions and other revenues, increased 21
percent to P1.15 billion.
Real estate sales climbed 51 percent
to P712.3 million, mainly coming from various projects such
as California Gardens Square, Greenhills
Garden Square, Little Baguio Terraces, Pioneer Woodlands, The Cambridge
Village, San Lorenzo Place, Laguna Bel Air and The Sonoma.
Empire East is setting aside P15 billion-P20 billion over
the next five years to accelerate product launches. It plans to roll out 5,000 new residential
units this year in line with its goal to double its reservation sales to P15
billion.
Empire East remains optimistic on the
real estate sector given strong overseas remittances, increased revenues from
the BPO sector, and a booming tourism industry.
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