Posted on 09:20 PM, March 24, 2010 [ BusinessWorld Online ]
LUCIO C. TAN-led real estate firm Eton Properties Philippines, Inc. yesterday launched a mixed-use condominium project, its fourth project in Makati.
Executives said the property developer will continue launching new projects in the metropolis before going to the provinces.
The Eton Tower Makati, which is also the second of 10 projects to be launched by Eton Properties this year, is the firm’s first foray into serviced apartments. The 41-storey condominium will rise on the corner of V.A. Rufino and Dela Rosa Streets in the middle of the Makati central business district.
“Eton Tower Makati is envisioned to be a ‘vertical city’ with four components: executive residences, small office and home office, serviced apartments, and a retail mall. Each component features a separate lobby for better security and convenience,” the property developer said.
The project will have 980 units, half of which would be residential, Danilo E. Ignacio, president and chief operating officer of Eton Properties, said in a briefing.
Around 25% will be for small offices, while the rest will be serviced apartments.
Mr. Ignacio said the company aims to sell to executives and professionals. The residential part of Eton Tower Makati will have 22-square-meter studio units, as well as 40-sq.-m. one-bedroom and 56-sq.-m. two-bedroom executive residences.
Studio units will be sold for P2.1 million each, while the price is P4.1 million for one-bedroom units and P7.4 million for the two-bedroom units. Small office and home office units of 22 sq. m. will be sold at P2.2 million each.
“The basement portion of the building up to the second level has already been constructed which allows us to easily schedule turnover by December 2013,” Mr. Ignacio said. -- Neil Jerome C. Morales
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