Vol. XXII, No. 50 [ BusinessWorld Online ]
Friday, October 3, 2008 | MANILA, PHILIPPINES
LUCIO TAN-LED Eton Properties Philippines, Inc. is developing a 12-hectare property in Quezon City into a residential and office community.
In a briefing, Eton Properties President and Chief Operating Officer Danilo E. Ignacio said mixed-use project Eton Centris would feature a shopping district, luxury residential cluster and a businessman’s hotel.
"There will be seven office buildings and 10 residential condominiums that will cater to the high-end market," he told reporters.
Eton said the development would benefit from a direct connection to the Quezon Avenue Metro Rail Transit (MRT) station, as well as two major thoroughfares — EDSA and Quezon Avenue.
"Centris is a high-end, transport-oriented development master planned to be a dynamic, fully integrated community featuring a mix of commercial, retail, office and residential components," Mr. Ignacio said.
The company recently held topping-off ceremonies for the first business process out-sourcing buildings in Centris — the first phase of the 20-year integrated development plan. One Cyberpod Centris is a 12-storey building with a gross floor area of 18,000 square meters, expected to be completed by December.
The second phase of the project will feature Centris Walk, a high-end dining and retail strip, due for completion by the third quarter of next year, while Centris Station is expected to be completed by the fourth quarter of next year. The latter will be connected to the MRT station and will feature a supermarket and retail stores.
Mr. Ignacio said Eton had signed a deal with SM Hypermarket to be its anchor tenant for Centris Station.
Meanwhile, residential condominiums will be introduced next year to complete the community’s "work-play-live" concept.
Eton Centris is the second major township development of Eton properties after the launch of its 1,000-hectare Eton City project in Laguna.
Its other projects include Eton Residences Greenbelt, Eton Baypark Manila, Eton Emerald Lofts, Eton Parkview Greenbelt, Belton Place and One Archers Place.
Mr. Ignacio said Eton had not been hit by the housing mortgage crisis in the US. "We have shied away from the US market before the impact was felt. The US only covers less than 8% of our total sales," he pointed out.
He said the company was looking at countries where there is a high concentration of Filipino workers, and was holding road shows in Qatar, Australia, Britain and Italy.
"We are planning to conduct another one in Canada before the year ends," Mr. Ignacio said.
He said that they were also looking at tapping the low- and mid-income brackets, which can afford housing worth P1.5-P2 million. — Kristine Jane R. Liu
LUCIO TAN-LED Eton Properties Philippines, Inc. is developing a 12-hectare property in Quezon City into a residential and office community.
In a briefing, Eton Properties President and Chief Operating Officer Danilo E. Ignacio said mixed-use project Eton Centris would feature a shopping district, luxury residential cluster and a businessman’s hotel.
"There will be seven office buildings and 10 residential condominiums that will cater to the high-end market," he told reporters.
Eton said the development would benefit from a direct connection to the Quezon Avenue Metro Rail Transit (MRT) station, as well as two major thoroughfares — EDSA and Quezon Avenue.
"Centris is a high-end, transport-oriented development master planned to be a dynamic, fully integrated community featuring a mix of commercial, retail, office and residential components," Mr. Ignacio said.
The company recently held topping-off ceremonies for the first business process out-sourcing buildings in Centris — the first phase of the 20-year integrated development plan. One Cyberpod Centris is a 12-storey building with a gross floor area of 18,000 square meters, expected to be completed by December.
The second phase of the project will feature Centris Walk, a high-end dining and retail strip, due for completion by the third quarter of next year, while Centris Station is expected to be completed by the fourth quarter of next year. The latter will be connected to the MRT station and will feature a supermarket and retail stores.
Mr. Ignacio said Eton had signed a deal with SM Hypermarket to be its anchor tenant for Centris Station.
Meanwhile, residential condominiums will be introduced next year to complete the community’s "work-play-live" concept.
Eton Centris is the second major township development of Eton properties after the launch of its 1,000-hectare Eton City project in Laguna.
Its other projects include Eton Residences Greenbelt, Eton Baypark Manila, Eton Emerald Lofts, Eton Parkview Greenbelt, Belton Place and One Archers Place.
Mr. Ignacio said Eton had not been hit by the housing mortgage crisis in the US. "We have shied away from the US market before the impact was felt. The US only covers less than 8% of our total sales," he pointed out.
He said the company was looking at countries where there is a high concentration of Filipino workers, and was holding road shows in Qatar, Australia, Britain and Italy.
"We are planning to conduct another one in Canada before the year ends," Mr. Ignacio said.
He said that they were also looking at tapping the low- and mid-income brackets, which can afford housing worth P1.5-P2 million. — Kristine Jane R. Liu
