Empire East to launch 4,700 residential units in first half

MANILA, Philippines - Empire East Land Holdings Inc., the middle-income residential property arm of tycoon Andrew Tan, will launch 4,700 residential units in the first half this year with an estimated sales value of P12 billion.
“Our confidence level in the real estate sector is very high. Our new projects will enable Filipino families to own quality, budget-friendly homes in the very best locations,” said Anthony Charlemagne Yu, president of Empire East.


The units will come from new projects which include The Rochester in Pasig City, The Sonoma in Sta. Rosa, Laguna and Kasara Resort Towers located near C-5 Road in Bagong Ugong, Pasig City.


Others will come from new phases in ongoing projects across Metro Manila – Green Club Towers in Little Baguio Terraces, Maple Heights in Pioneer Woodlands, Madison Plaza Towers in San Lorenzo Place and Central Park in Cambridge Village.


Kasara marks Empire East’s venture into urban residential resort development, with nearly 2,000 residential units in a nature-filled setting with landscaped greenery, various water features and wide, open spaces.
Empire East is the developer of the successful Laguna BelAir township in the South and several residential condominium and transit-oriented communities in Metro Manila.


“Kasara Resort Towers will offer a modern and relaxing resort lifestyle to middle-income Filipino families,” Yu said.


The project’s recreational deck is fully landscaped with palm trees and tropical plants. The swimming pool complex boasts white beach sand, and features a multipurpose hall at the very center.


Other amenities include a beach volleyball court, basketball court, tennis court, sunken bar and gym.




I am super excited about this, KUDOS Empire East Land Holdings and Megaworld Corp.!

Source: Philippine Star (Newspaper) 

Manila's Megaworld to launch $1.35 billion projects in 2011

Megaworld Corporation launch $1.35 Billion projects in 2011

Dec 20 (Reuters) - Philippine property developer Megaworld Corp (MEG.PS) said on Monday the group will launch projects worth 60 billion pesos ($1.35 billion) in 2011, with the company upbeat about prospects for the local real estate market.

"We have never been this bullish on the property sector, and we look forward to continued bright prospects not only in 2011 but long after that," Megaworld chairman and chief executive officer Andrew Tan said in a statement.

Tan said the group was planning a large-scale housing programme that involves rolling out some 18,673 residential units with a total floor area of over 830,000 square meters in 2011.

Megaworld alone will launch more than 11,000 high-end apartment units with total floor area of over 372,000 square meters worth at least 41 billion pesos. The projects are mostly in the capital Manila.

Megaworld associates Empire East Land Holdings Inc (ELI.PS) and Suntrust Properties Inc plan to start medium-cost and affordable housing projects worth 19 billion pesos in the capital and nearby provinces south of Manila.

"Many investors both here and abroad believe that our country is now moving in the right direction, and we see a surge of investments especially in infrastructure areas, which will open up more growth opportunities not only for the entire economy but also for the real estate industry," Tan said.

Megaworld investor relations officer John Hao told Reuters the company does not need to raise funding, with the group planning to use proceeds from pre-selling to finance the projects.

Shares in Megaworld, which has a market value of $1.35 billion, rose 0.9 percent on Monday in a broader market .PSI that was up 0.5 percent.

($1 = 44.3 pesos)

Source:http://in.reuters.com/