Empire East: Demand remains steady for mid-income condos

EMPIRE EAST LAND Holdings, Inc. said concerns over a potential condominium oversupply do not fully reflect market conditions, particularly in the mid-income segment where demand remains supported by end-users and long-term housing needs.

“The year reaffirmed a fundamental reality about the real estate market: Demand does not disappear; it becomes more defined,” Empire East President and Chief Executive Officer Anthony Charlemagne C. Yu said in a statement on Tuesday.

He said parts of the property market driven mainly by investment activity have slowed, but the mid-income segment has remained resilient because buyers are primarily families buying homes for occupancy rather than short-term gains.

“Oversupply is not uniform across the market — it depends on the segment and location,” he said. “In the mid-income segment, particularly in accessible locations, demand remains steady. The key is alignment: price point, location, and product must match actual buyer capacity.”

The listed developer said construction activity remained active, supported by P4.11 billion in engagements with contractors and suppliers.

“Our developments are not only generating sales activity,” Mr. Yu said. “More importantly, communities are actively taking shape, with residents occupying homes, establishing neighborhoods and building their lives within the environments we create.”

Empire East recently completed and turned over The North Residences at Covent Garden in Manila and the Mango Tree Residences East Tower in San Juan, adding more than 800 residential units to its portfolio.

The company also said it secured Pag-IBIG Window 1 status, which is expected to streamline housing loan processing and improve financing accessibility for buyers.

Its flagship township project, Empire East Highland City along the Pasig-Cainta corridor, has also completed major infrastructure works, including four-lane and six-lane road networks designed to improve mobility within the development.

The 22-hectare township is located near healthcare facilities including The Medical City, Pasig City General Hospital and St. Camillus Medical Center.

Empire East said it expects to manage rising fuel and construction material costs through disciplined planning and long-standing relationships with contractors and suppliers.

Mr. Yu said these partnerships have helped the company maintain operational continuity while limiting the impact of fluctuations in logistics and material costs.

The company is also advancing environmental, social and governance initiatives through its SCORE sustainability program, which includes the expansion of the 1.36-hectare Highland Forest within Empire East Highland City.

Employee volunteers have planted native tree seedlings in the area as part of efforts to improve urban green spaces and environmental sustainability.

Empire East also said demand from overseas Filipino workers remains a stable source of buyers for the company.

While rental yields continue to matter in investment-driven property segments, the developer said its core market remains focused on end-users seeking long-term housing.

Shares of Empire East Land Holdings, Inc. closed unchanged at P0.101 each on the Philippine Stock Exchange. — Juliana Chloe A. Gonzales