The property arm of LT Group Inc. has earmarked P10-billion worth of investment in the span of three to four years as it jacks up its real estate and commercial portfolio.
The company is also planning to become one of the major players in the Philippine real-estate industry.
In an interview with reporters after the company’s stockholders meeting, Eton Properties Chief Operating Officer Danilo Antonio said that for this year, the company is looking to spend around P10 billion for existing and prospective projects, of which P3 billion to P4 billion will be spent this year.
“Our initial computation, if we have to do all the process together, it should be in the vicinity of a P3 [billion]to P4 billion for the project cost, although if we roll it out across three to four years, it could reach about P10 billion,” Antonio said.
He further said that the P10-billion worth of investments include those that the company has not planned out yet or those that are still in the prospective stage.
As for the firm’s expansion activities this year, Antonio said that it is “basically completing existing projects.”
“For 2013, Eton will introduce more market-responsive projects in various locations. We are in the planning stage for new projects in Makati, Quezon City, San Juan and Binondo [in Manila],” Lucio Tan Jr. said during the company’s annual meeting.
“We will continue to ride on the growth of the BPO [business orocess outsourcing]sector by expanding our office and commercial property portfolio,” he added.
He cited that the LT Group’s huge land bank provides Eton Properties with ready access to a wide array of choice properties for launching new projects in strategic locations.
“Eton Properties expects to be a major force to reckon with in the property sector,” Tan further said.