Stock analysts stick with Empire East, predicting further gains for developer

Article Abstract:

Many investors are scrambling to acquire substantial shares of Empire East Land Holdings which will offer 425 million shares to the public at 46.6 cents per share until Jun. 17, 1996. The Philippine housing developer's share prices are expected to increase 15-fold by the end of 1996. Despite such high expectations, some investment analysts still have reservations with regard to Empire East. They noted that the many of the company's properties have yet to be developed and Empire East has a limited track record that can be used to evaluate its capabilities.

Securities, Empire East Land Holdings

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Developers build hopes on Manila's middle class

Article Abstract:

Philippine developers Pacific Plaza Towers Inc., Century Properties Inc. and Ayala Land Inc. are launching condominium projects that will add about 1,000 units to the Manila market. The developers believe that the units, which they intend to offer for $1 million each, will be popular among the country's growing upper-middle class, overseas investors and expatriate executives. The projects also reflect an increasing confidence in the Philippines' growing economy which is attributed to the economic programs of Pres. Fidel V. Ramos.

Planning, Real estate developers, Housing, Manila, Philippines, Condominiums, Ayala Land Inc., Pacific Plaza Towers Inc., Century Properties Inc. (Philippines)

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Ever Gotesco malls find niche among low-income consumers

Article Abstract:

Filipino-Chinese businessman Jose Go went against convention when he built his first mall in 1989, locating it in a dowdy but heavily populated industrial district instead of the flashy, fast-growing business centers. The strategy has paid off handsomely for Go and he now enjoys a monopoly over Manila's low-income mass market. Analysts expect Ever Gotesco Holdings Resources Inc. to do well when it goes public by the end of 1996.

Retail Trade, Shopping Center Developers, Management, Location, Philippines, Shopping centers, Businessmen, Go, Jose

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