Eton Properties Philippines Inc. is confident of sustaining its growth trajectory this year as it continues to expand its footprint.
Eton Properties expects to sustain its earnings growth by intensifying its leasing revenues, enhancing the land values of prime properties and optimizing land bank assets.
Karlu Tan Say, Eton Properties chief operating officer, said in the third quarter of last year alone, profit hit P626 million, up 99 percent.
This is on the back of a strong performance of the leasing business and real estate sales.
Revenues jumped 32 percent to P2.46 billion.
“Beyond giving us healthy profit margins, our well-balanced portfolio mix allows us to better manage our risks while giving us the opportunity to gain from the appreciation of land values in the future. As the Philippine economy grows, it is imperative that we continue strengthening Eton Properties as an organization,” Say said.
Eton Properties strengthened its presence on the commercial front in 2019, as a growing number of tenants across its commercial projects began operations, specifically in Eton Centris in Quezon City, Eton WestEnd Square in Makati City, Eton Square Ortigas in San Juan City, and Eton City Square in Sta. Rosa, Laguna.
The company’s office buildings were also delivered, allowing locators to commence operations in Cyberpod Five in Eton Centris, Quezon City, and eWestPod in Eton WestEnd Square, Makati City.
“These contributed to the company’s revenues from leasing operations, which continued to grow last year,” Eton Properties said in a statement.
Eton Properties recently embarked on the leasing of its strategically located and extensive land bank assets starting with Eton City in Sta. Rosa, Laguna.
The sprawling 600-hectare property is ideal for office and commercial land lease with its ready market of existing residential villages within the property and techno parks and industrial estates that herald seamless business operations in the South of Manila.
Eton Properties said it also aims to partner with hotel and leisure locators for its 36-hectare beach front property in Mactan, Cebu. The asset is envisioned to be converted into an integrated mixed-use resort township through the site’s long beach front, crystal clear waters and a wide 9-hectare natural lagoon.
To date, Eton Properties has 35 projects under its wing and has completed two townships, 1 nano township, 8 commercial centers, six business process outsourcing hubs, one events venue, one hotel, one serviced residences, 8 high-rise condominiums, one mid-rise development, and six residential subdivisions.
Eton Properties currently has a leasing portfolio of around 181,000 square meters (sq.m.) of office space and over 39,000 sq.m. of retail space.
