Empire East Land Holdings Inc. (ELI) reported that reservation sales reached PHP 22 billion in 2014, bringing net income at PHP 484.5 million (+61.3% y-o-y).
ELI’s 1Q income also grew 86% to PHP 138.1 million.
The firm introduced 2 new residential projects last year — Mango Tree Residences in San Juan City & Covent Garden in Sta. Mesa, Manila.
Meanwhile, ELI may consider tapping bank loans to help finance its PHP 25 billion, 5-year spending plan after staying debt-free for many years. No other details were given.