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Empire East to spend P8B for new projects
By ZINNIA B. DELA PEÑA
The Philippine Star


http://services.inquirer.net/print/print.php?article_id=71207

Empire East Land Holdings Inc., the middle-income housing unit of Megaworld Corp., is setting aside up to P8 billion over the next five years for the construction of new and ongoing projects.

Following the company’s stockholders’ meeting Wednesday, Empire East president Anthony Charlemagne Yu said the company is spending P1.5 billion this year for the development of new residential towers in Metro Manila.

To be launched this year are the nine-tower Pioneer Woodlands along Pioneer Avenue in Mandaluyong City and the six-tower Little Baguio Terraces on the Greenhills side of San Juan.

Yu said Pioneer Woodlands will be linked directly to the Boni station of the MRT-3 along EDSA. It will have a total of 3,000 units.

Empire East, he said, is now negotiating with the landowners of the Mandaluyong property.

With Little Baguio Terraces, the company hopes to replicate the success of Xavier Hills, Greenhills Garden Square and San Francisco Gardens.

Yu said the company will continue efforts to acquire raw land for development in the most strategic locations. It intends to do this through outright purchases or joint venture agreements with landowners.

Yu said the company will also make available to its clients Homelite, an affordable home financing product developed by Megaworld and Security Bank to offer the lowest fixed interest rates in the market plus extended payment terms of up to 25 years.

Yu reported that Xavier Hills in the San Juan-New Manila area is fully taken up even as homeowners continue to move into its four towers.

Laguna Bel Air, on the other hand, continues to build on its impressive sales record. Nearly sold out are Laguna Bel Air 1 and 2’s five phases, now home to some 2,116 families. The residential lots and house-and-lot units at Laguna Bel Air 3 and 4, comprising seven phases, are 94 percent taken up.

Meanwhile, Cambridge Village in Cainta, comprising 28 clusters in four phases, is 85 percent sold. Six clusters are on the market and are enjoying brisk sales.

Empire East is eyeing a 15 percent hike in net income this year from P246.8 million in 2006. Gross profit rose 11 percent to P174.7 million from P157.9 million while interest income increased 12 percent to P598 million as a result of increased sales under in-house financing.
 

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^^ With the size of the lot, I think it may look like the nearby CGS, and the Xavier Hills and Greenhills Garden Square projects of Empire East. Now it makes me wonder if they will also recycle the design that they used for those three projects, again.
 

· london/manila
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do we have a map yet for this project? if it's going to be linked to the mrt boni station it must be very very near, or that link will have to be a long, lone one. :)
 

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^^ That picture of the showroom being constructed is taken on my way up the Boni MRT Station. So it's not just very near, it's actually right infront of the station. It's not yet launched I think, so we wouldn't have a map for this one yet. I'll post a Google Earth map instead...

"X" marks the spot...
 

· london/manila
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thx! that's quite a very central location for empire east. zillions away from the location of cambridge village. :lol: hope they keep the price down though... interesting!!
 

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Wow 3000 units for 9 towers that's like 330 units per tower.

How many units in each CGS floor ba. Was it 10? That would make these 33 story buildings. But if it's 20 units per floor then that would be 15 floors. Dang that looks like a very dense configuration.

Oh well basta mura then happy iyung customer. Good location naman.
 

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Wow 3000 units for 9 towers that's like 330 units per tower.

How many units in each CGS floor ba. Was it 10? That would make these 33 story buildings. But if it's 20 units per floor then that would be 15 floors. Dang that looks like a very dense configuration.

Oh well basta mura then happy iyung customer. Good location naman.


not as dense as The Grass with 7 towers and 5,390 units :nuts: and if i'm not mistaken they're in roughly the same price range
 

· Miles away ...
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It seem most local developer nowadays is focusing in building project in Mandaluyong area. Anyway, I'm just curious if they are offering a loft type unit or standard flat unit area. Area is currently busy due to nearby BPO offices and of course its accessible to both Ortigas & Makati CBD via MRT line.
:lol:
 

· london/manila
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just wondering why woodlands? are they planning to build a mini forest instead of the usual garden and pool amenities? baka ito na nga ang sinasabing gubat sa syudad... LOL!! :hilarious
 

· Proud to be Filipino
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It seem most local developer nowadays is focusing in building project in Mandaluyong area. Anyway, I'm just curious if they are offering a loft type unit or standard flat unit area. Area is currently busy due to nearby BPO offices and of course its accessible to both Ortigas & Makati CBD via MRT line.
:lol:
well... I these developers are making the most of the rezoning of this area of Mandaluyong from industrial to residential/commercial...
 

· inBUSYble
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The pioneer street of is too narrow nowadays for this scale of developments in that area. The access road from Edsa to pioneer street can only accommodate exactly one vehicle at a time per direction, which causes heavy taffic at pioneer street specialy at the evening when employees from cybergate centers started to leave their office. Actually if they plan to widen the road they can only expand the road in the cybergate center side into 2 lanes and the other side cannot since the Globe Pioneer building is within exactly in the road boundery.
 

· Miles away ...
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I think the concept of building Pioneer Woodland beside MRT and EDSA is to maximized availability of good transport system. Maybe the target potential buyers are people who use public transport and walking distance to work. I hope if this project is finish would make the Pioneer cor. EDSA side become a 24 hrs busy street similar to Boni Ave. cor EDSA side :fiddle:
 

· london/manila
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this is going to be quite an interesting project. kelan kaya launch nito? :) this should complement the other empire east project, the cambridge village. for those who really want to reside slam-bang in the middle of the city will be opting for pioneer woodlands, while those who want some breath of fresh air and yet still want to be actually close by at the same time would do themselves well with a unit in cambridge village at very reasonable prices. can't wait for the announcement of unit prices as empire east is marketed for middle income earners... :cheers:
 

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Hi if anyone is interested, I know a sales director from empire, im also getting a 2br space here, though someone got the space a really wanted in 30th floor yun 34 sqm wala na so 32.5 sqm ako - this is her page -> http://gloria.mdevsite.com (have some pics some details and her contact details)
for those interested let her know na si rommel C. nag refer sa inyo :) would be beneficial for us, right now same price pa ang top floors and below, and may scheme sila na ok (for me) pay 50% dp in 5 years (0 interest) (in my case 14k++/mo) then the remaining 50% after turn over, you can use in house financing or pag ibig etc. of course wala na 0 interest dun sa remaining. hope this helps
 
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