ETON News

For Sale: Residential Lots on Islands Built Within Man-Made Lake

by Ruby Anne Rubio
Business World | 01/09/08

LUCIO TAN-led Eton Properties Philippines, Inc. is introducing “residential island lots,” or leisure properties in man-made islands.

To be located in the 1,000-hectare masterplanned Eton City in Sta. Rosa, Laguna, the South Lake Village will be an integrated mixed-used township project

The 150-hectare South Lake which is the first phase of the Eton City development, will have 18 residential islands surrounded by a 35-hectare man-made lake.

Each island, approximately one hectare in size, will have eight to 12 residential lots of about 1,000 square meters each.

Lots are sold at P10,000 to P12,000 per square meter.

“This will feature the first residential island concept in the Philippines,” Eton Properties President and Chief Operating Officer Danilo E. Ignacio said in a briefing yesterday.

He added that South Lake Village would be ready for turnover by June 2009.

Mr. Ignacio declined to disclose how much investments will be infused into the new project. He also would not say how much revenues are expected from South Lake Village.

Eton City is located along both sides of the South Luzon Expressway, right at the entrance of the existing Eton City Greenfield interchange.

Its masterplan was made by Baltimore based RTKL and NS Mangio & Associates.

“We hope in the future we will develop (Eton City) as a new Makati… This is a long-term project. I don’t see this project in total in the next five years. It will likely be a 10-year project,” Mr. Ignacio said.

Eton City will also include a central business district, an 18-hole championship golf course with golf village, a country club, a shopping mall, a hotel, a casino and condominium communities.

“Right now, we are in discussion with a number of mall operators who have expressed setting up a mall here,” Mr. Ignacio said.

Eton Properties has received a lot of interest from the US and European markets for the project.

Asked whether the company has plans to go to the capital markets to raise money for the projects, Mr. Ignacio said cash was “not a problem with Eton,” which is part of the Lucio Tan Group of Companies.

“(A) big advantage for the company is Eton has access to the most extensive land bank in this country – both the land bank of the Lucio Tan Group of Companies and ROPOA (real and other properties owned or acquired) of Philippine National Bank and Allied Bank. We are able to choose locations. Once we know the best demand is, we are able to launch right away a project in those locations,”.

While property developers are on a lookout for site in Fort Bonifacio, Eton Properties is taking a different direction.

“There is too much competition. We have plenty of land. We can choose where we want to develop where there is less competition. That is our advantage,” Mr. Ignacio said as he noted that the company has properties in Cebu, Calatagan, anmd Baguio.

Mr. Ignacio remains bullish on the property market this year even if US subprime woes have affected sentiment in the global arena.

“We consciously allocate our resourced. I will have more local agents than agents selling for me abroad. We go to a lot of international road shows to have a feel of the market,” he said.

Eton Properties is looking at posting a turnaround next year as it starts realizing revenues from its projects.

The 34-storey Eton Parkview Greenbelt and Eton Baypark are sold out while the 41-storey Eton Emerald Lofts is one-third sold and the 31-storey One Archers Place is one-fourth sold.

Owning A Home Made Easy With Home 838 posted on November 28, 2007 The Philippine Star, November 9, 2007

For most of us, having a home of one’s own can be the fulfillment of a lifetime dream. Whether it’s a unit in a high-rise residential building or a house in a growing community in the suburbs, the home remains a concrete symbol and statement of one’s success.

Property developers usually come up with financing schemes that allow people to fulfill their dream of having their very own homes. But because purchasing a home is a big investment, today’s buyers opt to choose not only a place they are truly interested in, but also place their trust in property developers that can help them obtain this through comfortable payment terms.

One such developer is Eton Properties Philippines, Inc. The real estate arm of the Lucio Tan group of Companies, Eton Properties has teamed up with sister company Allied Bank to introduce the most affordable home financing plan for Eton clients.

Eton Properties’ HOME 838 financing program provides for longer payment terms with a fixed interest rate of 8.38% for ten years – to date, the lowest in the industry. Not only does Eton Properties provide the lowest interest rate, it also lets clients choose from downpayment schemes as low as 20 or even 10% and payment terms as long as 20 years.

Initially, HOME 838 was offered exclusively to buyers of Eton Emerald Lofts, Eton Properties’ twin-tower all-loft residential condominium in Ortigas Center. Eton Properties’ HOME 838 certainly makes the dream of loft living within reach, especially for young business professionals who see lofts as the fashionable and stylish residence of choice as it provides the ultimate in leisure being surrounded by top lifestyle destinations like Shangri-La Plaza Mall, The Podium, SM Megamall and Robinsons Galleria.

Now, this great financing scheme from Eton Properties is also offered for two other top developments of Eton properties. Buyers can choose from Belton Place, a prime corner along Pasong Tamo, steps away from Ayala and Buendia avenues and One Archers Place, a residential development near De La Salle University in Manila.

Breaking New Ground
EPPI Commences Construction of First 2 Projects

Perspectives | Volume 1 | November 2007

Eton Properties Philippines, Inc. (EEPI) recently held Construction Commencement Ceremony for the Eton Residences Greenbelt (TERG) and Groundbreaking Ceremony for Eton Baypark Manila (EBM) last November 8, 2007.

The upgraded exterior design of TERG was unveiled during a morning ceremony at the project site at the former Philippine Airlines Headquarters in Legaspi Street in Makati. The new façade is designed by HK-based architectural firm Palmer and Turner, the same creative team behind the luxury apartment tower Queen’s Garden in Hong Kong and landmark project Shang Grand Tower in the Philippines. Architect-in-charge Edgar Cozzio says, “The design is an embodiment of the simple elegance and modern timelessness of an iconic landmark that will stand singularly among existing and future condominium buildings in Makati”.

Joining the team of renowned experts is Tem Deco International Limited, who will take on the task of upgrading the interior design of the grand lobby, common areas as well as the unit interiors. Team Deco is best known for the posh interiors of 5-star rated The Eton Hotel Shanghai.

The new design upgrade is testament to EPPI’s commitment to continually improve the value of its client’s investment into top-of-the-line world-class standards.

A groundbreaking ceremony and time-capsule laying were then held in the afternoon at the project site of Eton Baypark Manila.