In its bid to become a significant real-estate player, Lucio-Tan led property developer Eton Properties Philippines will build more leisure, commercial and office developments in the next five years.
“For 2013 and the next five years, we are focusing our efforts on growing our leasing business to take advantage of the significant prospects in the leisure, retail and BPO [business process outsourcing]market in the country,” Danilo Antonio, chief operating officer of Eton Properties, said.
According to him, the firm will focus on developing more commercial centers, retail hubs, BPO offices and hotels.
“Alongside the shift in business directions, we shall be realigning our organizational structure and business processes to better serve our target markets,” he noted.
Antonio added that the move will help the company diversify its revenue stream and strengthen its position in the industry, while sustaining its residential development business, specifying that office space is currently the company’s strongest contributor of recurring income.
Centris Cyberpod Three in Quezon City, the company’s sixth BPO office building, is scheduled to be completed by yearend. The first office building of the company is the 13-storey Centris Cyberpod One, which has been fully leased out to BPO firms.
Eton is also beefing up its retail and commercial centers portfolio, with plans to start development of a new lifestyle mall within Eton Centris, the company’s 12-hectare township project at the corner of EDSA and Quezon Avenue in Quezon City.
Moreover, another commercial strip will soon open in Eton City, the company’s 1,000-hectare flagship township project in Santa Rosa, Laguna.
Given the government thrust on tourism-related projects, leisure developments in key cities and tourist destinations are also being planned for the next three years, Antonio said.
Madelaine B. Miraflor