EEI tries its hand AT property development
EEI Corp. intends to expand into the real estate space and make use of its land bank with a total of 139 hectares across key cities in the country.
EEI on Friday said in a statement its pipeline of real estate projects would be built in Makati City, Quezon City, Bataan, Cavite and Pampanga.
“Real estate development represents a logical and timely progression for our organization,” EEI president and CEO Henry Antonio said.
“By integrating development into our business portfolio, we strengthen our competitive position, diversify our revenue streams, create additional long-term value and fulfill our investment commitment for our stakeholders,” Antonio added.
EEI is a construction-focused company whose portfolio includes major government infrastructure projects. It plans to develop an “affordable luxury” micro condominium in Clark, Pampanga. Its goal is to create a living space “that goes beyond a workers’ accommodation facility.”
In Cavite, the company wants to establish an integrated township. It will have residential and commercial spaces, office buildings, sports, leisure and entertainment amenities.
This, as areas outside the National Capital Region (NCR) remain attractive hubs for investors, particularly potential homeowners, as mortgage rates in Metro Manila stay high.
Data from real estate broker Colliers Philippines show that areas outside NCR, particularly Luzon, saw a 57-percent surge in residential condominium demand in 2024 compared with 2021. Back then, the Philippine economy was only beginning its gradual recovery from the impact of the pandemic.
Demand for horizontal residential developments, meanwhile, grew by 5 percent.
In pursuing their real estate venture, Antonio also noted that it would support the company’s sustainability commitment by providing “socialized, decent and sustainable living spaces” for Filipinos.
EEI saw its project pipeline last month expand by 40 percent to P36.85 billion, signaling a potential turnaround from its losses the previous year. This is likewise expected to translate to higher future revenues, the company said.
