[ manilastandardtoday.com ] April 13, 2009
Eton Properties Philippines Inc., the property arm of airline tobacco tycoon Lucio Tan, recently launched two new projects in Metro Manila, amid an improving industry outlook.
Eton Properties president Danilo Ignacio said in a statement that 2009 showed “encouraging sales” in the first quarter of the year after a challenging second half in 2008.
“The improvement comes from both local and international markets. We’ve concentrated our efforts away from the US towards countries less affected by the economic crisis. Local market demand has started to show strength, particularly with product offerings targeting a specific niche,” Ignacio said.
Eton Properties launched the West Wing Residences, a 2.2-hectare residential enclave situated in the 13.8-hectare North Belton Communities project of subsidiary Belton Communities Inc.
The project, which is located in Novaliches, Quezon City and designed for the middle-income market, offers two- and three-bedroom townhouses starting from P2.8 million.
A single attached unit with four-bedrooms is also available costing as much as P4.1 million each.
“The introduction of the West Wing Residences in the North Belton Communities development will further enhance the value of the community since it is one of the few townhouse developments in the area of this size. The project size allows us to develop amenities and lifestyle offerings for our West Wing buyers that smaller pocket developments will be hard-pressed to match”, Ignacio said.
The second project is West Tower of the 31-storey One Archers Place condominium beside De La Salle University, along Taft Avenue in Manila.
Ignacio said East Tower of One Archer’s Place was one of Eton Properties’ fastest selling projects.
He said buyers immediately saw the convenience and strategic value of the location and the rental investment potential of the project, driven by the year-round demand for residential space in the area by students and professionals. Jenniffer B. Austria