MANILA, Philippines — Eton Properties Philippines Inc., the real estate unit of the Lucio Tan Group, is gearing up for expansion to sustain growth in the coming years.
Eton intends to unveil two residential communities as well as introduce a new hotel brand in the next two to three years.
To be located in the most prime locations within Metro Manila, Eton said the two residential communities would have low to medium density, emphasizing on spaciousness and comfort for residents.
The company is likewise keen on creating high-value and sustainable developments in its properties in Sta. Rosa, Laguna and Mactan, Cebu.
“Looking ahead, we aim to evaluate opportunities in Eton City, explore join ventures in real estate and launch new projects in the Visayas region to sustain growth and create value for stakeholders,” Eton Properties president and chief executive officer Kyle Tan said.
Last year, more stores were opened in its four-hectare commercial property Eton City Square located inside the 600-hectare Eton City in Sta. Rosa, Laguna.
Eton City is currently generating several inquiries and capturing strong interest from business locators, the company said.
“As the market regains confidence influenced by economic stability and strong consumer spending, we are expecting to open up more stores across all commercial properties and retail districts this year,” Tan said.
Eton’s net income skyrocketed by 152 percent to P746 million last year from P296 million in 2022 as revenue rose to P2.8 billion.
The company garnered P137 million from the residential sales of its projects such as 68 Roces in Quezon City, as well as South Lake Village, RiverBend, TierraBela and WestWing Residences in Eton City.
“Eton Properties remains committed to sustainable growth and creating value for its shareholders.