Empire East Land Holdings, Inc. (ELI) was incorporated on July 15, 1994. Prior to its incorporation, the company was a division of Megaworld Corporation (MEG) and was then known as its Community Housing Division. In 1994, MEG decided to spin off its Community Housing Division into what is now ELI for the purpose of separating MEG's high-end residential and office business from its lower and middle-income housing business. ELI's core business is the construction and development of residential communities and marketing of real estate. Its products are classified into three major categories ? high rise condominiums, mid-rise residences, and horizontal or house and lot communities. The company's subsidiaries are directly engaged in offering commercial, industrial, parking and residential spaces for lease all over Metro Manila. The company holds interests in Eastwood Property Holdings, Inc., Laguna BelAir School, Inc., Suntrust Properties, Inc., Valle Verde Properties, Inc., Sonoma Premier Land, Inc., Empire East Communities, Inc., and Sherman Oak Holdings, Inc. Source: SEC Form 17-A (2008)