Eton Properties Philippines is focused on expanding further its leasing portfolio, according to Kyle Tan, company executive director.
“Our company’s financial results for 2021 showed that we have kept on track with our efforts to cushion the impact of economic slowdown. This year, we are on momentum to continue our goal to increase our leasing portfolio, which has contributed by 82 percent of our total revenue,” said Tan.
Tan said Eton will also activate some of its remaining raw lands across the country that have good potential for development.
Despite the slow demand in the office and residential markets, Eton posted P550 million in profit over P2 billion in revenues, of which the office leasing portfolio contributed 77 percent of the total, noted Tan.
The commercial and retail space contributed 11 percent, while the residential leasing and the rest of the leasing portfolio accounted for the 12 percent share.
“Since Eton Properties’ leasing business has been an essential segment in 2021, Centris Cyberpod One and Centris Cyberpod Three remained 100 percent fully leased out for the year, while Centris Cyberpod Five reported a 118 percent growth in its occupancy by the year-end, and occupancy levels are expected to improve further as the economy is opening up,” Tan said.
Tan said Eton is now working to retrofit the 36-storey Blakes Tower located at the one-hectare mixed-use development Eton WestEnd Square in Makati central business district, which has 11,500 square meters (sq.m,) of available leasable office area, which can be retrofitted to hybrid cuts at varying office size requirements ranging from 40 sq.m. to 1,000 sq.m. for more functionality.
“Blakes Tower has allocated 11 floors exclusive for the office area (8th-19th), while 15 floors (20th-34th) are devoted to residential units. Employers and employees will have the option to rent the residential floors to minimize the health risk and have seamless work-life integration,” Tan said.
The company is set to launch Eton City Square inside the master-planned township Eton City in Sta. Rosa, Laguna, which will bring an additional 5,824 sq.m. of leasable area.
Eton Properties is the real estate brand of the Lucio Tan Group. Its foreign counterpart, Eton Properties Ltd., is an established real estate brand in Hong Kong and mainland China.
