Megaworld’s Empire East banks on end-user demand
Empire East Land Holdings Inc., a subsidiary of billionaire Andrew Tan’s Megaworld Corp., said the demand in its core mid-income market remains resilient as homebuyers continue to prioritize long-term housing needs over investment returns, even amid rising construction costs and global uncertainties.
During its annual stockholders’ meeting on Tuesday, the company said most of its buyers are end-users seeking homes for long-term living rather than investors chasing rental income.
As a result, demand continues to be driven by affordability, accessibility and livability.
“For investor-driven segments of the real estate market, rental yield is a primary consideration,” said President and CEO Anthony Charlemagne Yu. “In our case, most buyers are end-users, so their decision is less dependent on rental returns and more on livability and long-term value.”
The company noted that postpandemic shifts in consumer behavior have changed how residential properties are evaluated, particularly in urban condominium developments.
While rental demand remains present in strategically located projects, Empire East said end-user demand continues to underpin its business.
This sustained demand comes even as developers grapple with higher construction costs linked to global developments, including tensions in the Middle East that have affected fuel prices, shipping expenses, supply chains and the cost of construction materials.
