Suntrust Home Developers, Inc. (“the Company”) was incorporated under Philippine laws and registered with the Securities and Exchange Commission (“SEC”) on 18 January 1956 under the name Ramie Textiles, Inc. It was originally authorized to engage in the manufacturing and sale of all types of ramie products. On 10 May 2006, the SEC approved the extension of the Company’s corporate term for another 50 years from 18 January 2006.

The Company changed its name in 2002 as it sought to identify investment opportunities that will yield attractive returns. This change in name came hand in hand with a change in the Company’s primary purpose or nature of business, from a holding company to a real estate company authorized to engage in real estate development, mass community housing, townhouses and rowhouses development, residential subdivision and other massive horizontal land development. These changes were prompted by the perception that being a holding company no longer appeared to be viable, at least in the next few years, considering the slump in the equities market.  Moreover, it was an opportune time for the Company to re-strategize and take advantage of the huge but untapped potential that the low-cost mass housing sector had to offer. A new secondary purpose was also added authorizing the Company to acquire interests in tourism and leisure-related enterprises, projects or ventures.

In line with the change of business in 2002, the Company acquired from an affiliate, Empire East Land Holdings, Inc. (“EELHI”), all of the latter’s shareholdings in Empire East Properties, Inc. (“EEPI”).   Prior to such acquisition, EEPI was incorporated on 14 November 1997 as a wholly-owned subsidiary of EELHI to engage in the development of socialized or low-cost housing projects. In March 2004, the Company’s percentage of ownership in EEPI was reduced from 100% to 60% upon the subscription by EELHI to additional shares of EEPI.

EEPI has as its principal products house-and-lot packages and condominium units.  It is currently developing the Governor’s Hills affordable housing project in General Trias, Cavite, the Sunrise Hills project in Dasmariñas, Cavite, the Sta. Rosa Heights project in Silang, Sta. Rosa, Laguna, and the Suntrust Adriatico Garden condominium project in Adriatico, Manila.  Compared to other players in the industry, EEPI caters to the low to middle income sector of the market since it focuses on socialized and low-cost housing projects.