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Eton to build low-cost flats thru new project

06/14/2010 [ tribune.net.ph ]

Listed Eton Properties Philippines Inc. of the Lucio Tan group will offer affordable housing in their new brand called First Homes, with its first residential condominium Aurora Heights.
Eton president Danilo Ignacio said Eton tapped the affordable segment to address the housing demand in the country, adding the project was inspired by condominium buildings in Hong Kong.
Aurora Heights, located along Aurora Boulevard right beside Philippine School of Business Administration, is a two-tower, 20-story residential condominium targeting students, teachers and employees.
The 4,820-square meter residential project with a total of 1,252 units will have two-bedroom units with 18 square meters, and three-bedroom units with 28 square meters costing around P1.4 million and P2.2 million, respectively, with a target monthly amortization of P10,000.
Ignacio said they will soft launch Aurora Heights this weekend in Hong Kong and Singapore, targeting overseas Filipino workers. The target completion and turnover for the project is 2013, he added.
Meanwhile, Eton is positive for the rest of 2010, with Ignacio noting the trend after every national elections, there is a boom in real estate investment. “We felt it already, in March 2010 Eton registered the highest real estate investment,” Ignacio said.
Ignacio added that the company registered a 98 percent increase in reservation sales in the first five months of 2010 due to very strong market. He added that the company expects to turnover seven projects this year.
Danessa O. Rivera
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