Happy 19th Anniversary, to the entire Suntrust Family!
A Message from our President Atty. Harry Paltongan, on this special day:
“19 yrs ago or on 14 November 1997, Suntrust Properties Inc. or SPI (then named Empire East Properties Inc.) was born in the midst of the Asian financial crisis. Then, a dollar’s exchange rate would rise from p26 to p55.75, while borrowing interest rates would spike from 15% to 32%. There was a negative growth in the economy, and retrenchments and unemployment were a feared fashion of the times. While there was not much sales in the real estate industry, the loan defaults just kept multiplying. That was then.
Yet, SPI, after lots of crisis and uncertainties, did not waver but stayed relentless. It kept growing and expanding, moving out from its comfort zones as a developer of several CALABARZON horizontal subdivisions to include various vertical projects in the Metropolis. It is now also into industrial ecotowns. It likewise ventured into golf club management. Its expansion is now reaching the other regions such as Metro Davao, Metro Bacolod, and the City of Baguio.
While SPI has still a lot to do to better serve the needs of its clients, this anniversary is because of them – our clients who trusted us. And so we look back at those relationships created with them and we know these must be cultivated and enhanced.
This is also to thank those who gave much support to this company, such as our SPI contractors or partners, suppliers, banks, insurers and other service providers. And of course to our joint venture partners who allowed us to add values to their landholdings.
Needless to say, we owe much thanks to the company’s employees, to its in-house suntrustees, and to its brokers. It was because of them that we bravely withstood the challenges of the times.
In the process, SPI created subsidiaries focused on their particular specialties such as: Suntrust Ecotown Developers Inc., Governor Hills Science School inc., Sunrays Property Management Inc.. And it is also managing Sherwood Hills Golf Club Inc. So also to them we owe their respective contributions for the cumulative growth of SPI.
Finally, we thank our parent company Megaworld Corp. and our Chairman Dr. Andrew L. Tan who has continued to fully trust and support SPI.