Empire East Land Holdings Inc., a subsidiary of Megaworld Corp., has allotted P4 billion to P5 billion to capital expenditures for this year.

“To keep to our schedule of delivering quality properties to homebuyers and investors, we expect to spend about P4 billion to P5 billion for construction and development work in 2016,” Empire East president Anthony Charlemagne Yu told shareholders during the firm’s annual stockholder’s meeting on Tuesday.