Eton affordable housing unit to build 2nd high-rise condo in Makati

MANILA, Philippines - Following the successful launch of its first residential condominium project, First Homes Inc. , a wholly-owned unit of publicly-listed Eton Properties Philippines Inc., is building another high-rise building to capitalize on the robust demand for this type of product.

In a briefing yesterday, Eton president Danilo Ignacio said the group, through First Homes, will start the development of a 34-story, three-tower building on a 3,260-hectare property at the corner of Chino Roces Ave. (formerly Pasong Tamo) and Malugay St. in Makati.

The project, to be branded as First Homes Makati, is a follow-up to the 20-story twin-tower Aurora Heights Residences in Loyola Heights, Quezon City, which is now 40-percent sold.

Ignacio said First Homes Makati will offer a total of 1,260 two-bedroom and three-bedroom units with sizes of 18 square meters and 28 sqm, respectively. Prices range from P1.5 million for the two-bedroom units and P2.5 million for three-bedroom units.

Construction is set to start on January 2012, with a target completion date of December 2014.

The first tower will feature a large clubhouse with receiving areas for guests, landscaped gardens and a strip of retail outlets at the ground floor.

“We’re very confident about this project which I believe will help first-time home buyers to achieve their dreams of owning a home. This is perfect for young employees, working students and newly-wed couples because it is move-in-ready,” Ignacio said.

He said one needs to shell out a minimum of P10,000 a month for loan amortization. For the three-bedroom units, loan amortization starts at P17,000 a month.

“Investors looking to rent out condo units will likewise enjoy rewarding leasing opportunities,” he pointed out.