MANILA, Philippines — EEI Corp. is making a big diversification push into real estate development, a move that will form part of its long-term growth strategy to evolve from a pure-play construction company into a fully integrated property and infrastructure developer.
EEI said that it is expanding into real estate development by capitalizing on its 139 hectares of land bank in various strategic locations.
The company is preparing its initial pipeline of real estate projects for various properties located in Makati, Quezon City, Bataan, Cavite and Pampanga.
“This endeavor is part of the company’s long-term strategy to strengthen and expand its role in nation building, not only in infrastructure but in providing housing solutions to a mass number of people who currently do not have access to proper, dignified and comfortable housing accommodations in the metro and neighboring provinces,” EEI president and CEO Henry Antonio said.
To support the government’s push to address housing backlog in the country, EEI plans to develop quality housing projects in various prime location within Greater Manila Area.
It also intends to put up an affordable luxury micro condominium in Clark, Pampanga, which is envisioned “to create a living environment designed with thoughtful spaces that goes beyond a workers’ accommodation facility.”
Further, EEI looks to transform a property in Cavite into an integrated township that will house residential and commercial spaces, office buildings, sports, leisure and entertainment amenities.
Antonio said that real estate development represents a logical and timely progression for EEI.
Through its foray into the real estate development space, EEI targets to capture greater value across the property lifecycle.
The company’s diversification is designed to leverage its extensive construction expertise, robust project management capabilities and established industry relationships.
EEI assured the public that its real estate projects would be undertaken with the same commitment to quality that have characterized the company’s track record in construction.
“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. It also supports our sustainability commitment by providing socialized, decent and sustainable living spaces for our people,” Antonio said.
EEI offers a broad range of construction and engineering services, specializing in the construction of infrastructure, buildings and industrial and electromechanical facilities.
The company also has multiple mega infrastructure projects in the pipeline, including big-ticket railway projects.
EEI recently secured the development of two infrastructure contracts worth a combined P1.8 billion under the South Commuter Railway Project (SCRP) 07.
SCRP, a part of the larger North-South Commuter Railway project, will reduce travel time between Metro Manila and Laguna upon its completion.
Last March, EEI announced a change in ownership following a management buyout by Antonio.
The management company controlled and led by Antonio acquired RYM Business Management’s 20 percent interest in EEl.