SM Prime acquires 3-ha Eton property

By Zinnia B. Dela Peña (The Philippine Star) April 30, 2010



MANILA, Philippines - The Lucio Tan Group has sold to Sy-led SM Prime Holdings Inc. a three-hectare property located within its mixed-use township project in Novaliches, Quezon City for an undisclosed price.

The property, owned by Philippine National Bank, forms part of the 13.8-hectare North Belton Communities residential enclave which is being developed by Eton Properties Philippines Inc.

Lucio Tan, Ayala team up on housing project

by Zinnia B. Dela Peña
The Philippine Star | April 14, 2010

MANILA, Philippines - Eton Properties Philippines Inc., the local real estate arm of the Lucio Tan Group of Companies, has forged an agreement with the Ayala-led Amaia Land Corp. to jointly develop a four-hectare property in Laguna into a socialized housing subdivision.

In a disclosure to the Philippine Stock Exchange yesterday, Eton said the property is owned by affiliate companies which Amaia proposes to develop under a joint venture arrangement as part of Amaia Scapes Laguna.

Under the agreement, Eton will be the development manager of the property representing the landowners.

“Eton and Amaia undertake to execute within six months from date of execution of the MOU, the joint development agreement subject to the final terms and conditions that may be agreed upon by the parties,” Eton said.

Estimated to cost P1 billion, Amaia Scapes Laguna will offer a total of 1,828 house and lot units ranging from 25 to 75 square meters.

Unit prices range from P600,000 to P1.2 million each.

Industry experts see more promise in the largely-untapped affordable housing segment as evidenced by the shift being made by big real estate players.

This sector of the market currently accounts for 34 percent of the more than 17 million households nationwide.

The housing backlog, on the other hand, is estimated at between 3.8 million and 4.2 million.

Amaia Scapes, which will rise on a 19.6-hectare lot in Calamba, Laguna, is scheduled to be launched in April and has already attracted a lot of interest from prospective homebuyers.

The initial phase of Amaia Scapes will involve the development of 534 units, which are expected to be turned over to home buyers before Christmas.

The units will be available to families that combined salary of P20,000 to P50,000 a month and a for a minimum monthly amortization of only P4,000.

ETON TOWER MAKATI - BROCHURES

Eton Properties posts turnaround last year

GMANews.TV | April 11, 2010

Net profits of Lucio Tan-owned Eton Properties Philippines, Inc. hit P294 million last year, a turnaround from a net loss of P130.7 million in the prior year, the company said in a statement.

Total revenues jumped almost 24 times to P2.1 billion following the initial construction of residential projects The Eton Residences Greenbelt, Eton Baypark Manila, One Archers Place, South Lake Village at Eton City and The Manors at North Belton Communities.

The property developer also cited the start of operations of commercial centers and business process outsourcing offices.

"The company expects continued increased earnings growth by [the] end of 2010 with the substantial construction work [at] Eton Parkview Greenbelt, Belton Place and Eton Emerald Lofts projects," it said.

Assets of Eton, now on its third year, almost quafrupled to P10.7 billion last year.

The company said it planned to launch at least 10 new projects this year. The company has already launched two — the West Wing Villas in North Belton Communities and Eton Tower Makati.

"We have reasons to be very optimistic about 2010. First, it is an election year and we are hopeful that the country will have a peaceful and orderly national elections in May," Eton President and Chief Operating Officer Danilo Ignacio said in a statement.

"Analysts predict low interest rates and remittances from [Filipino workers abroad will] continue to grow significantly. These factors all point to a very promising year for the real estate industry. Our first quarter sales have been very strong," he added.

Eton launched 29 projects in its first three years of operations. Its portfolio includes residential, commercial and office projects, as well as township developments.

It entered the local real estate scene in 2007 with the launch of several residential projects, including its almost 1,000-hectare township project in Sta Rosa, Laguna, dubbed Eton City. — NPA, GMANews.TV

Eton Properties 2009 Assets Hit P10.7B

April 8, 2010

Based on the financial statements recently approved by its Audit Committee, Eton Properties Philippines, Inc., posted a sharp turnaround in 2009 registering net income of P294M from a net loss of P130.7M the previous year. Total revenues jumped 2,279 percent to P2.1B in 2009 from P89M in 2008 resulting from the substantial construction of its initial residential projects The Eton Residences Greenbelt, Eton Baypark Manila, One Archers Place, South Lake Village at Eton City, and The Manors at North Belton Communities and the start of operations of its commercial centers and business process outsourcing offices. The company expects continued increased earnings growth by end of 2010 with the substantial construction work on its Eton Parkview Greenbelt, Belton Place, and Eton Emerald Lofts projects.

The Lucio Tan-led company, now on its third year, also posted a 284% increase in assets from P2.7B in 2008 to P10.7B in 2009. The company plans to launch at least 10 new projects in 2010. To date, the company has already launched 2, namely the West Wing Villas in North Belton Communities and Eton Tower Makati.

“We have reasons to be very optimistic about 2010. First, it is an election year and we are hopeful that the country will have a peaceful and orderly national election in May.

Analysts predict low interest rates and remittances from OFWs continue to grow significantly. These factors all point to a very promising year for the real estate industry. Our first quarter sales have been very strong.”, says Danilo Ignacio, President and COO of Eton Properties Philippines, Inc.

Eton Properties Philippines, Inc. is a member of the Lucio Tan Group of Companies, one of the biggest and well-established business conglomerates in the Philippines. Its foreign counterparts, Eton Properties Group of China and Eton Properties Limited of Hong Kong, are highly-recognized real estate brands.

Eton Properties launched a total of 29 projects in its first three years of operations. Its property portfolio of launched and completed projects encompasses residential, commercial, office projects and township developments. It entered the Philippine real estate scene in 2007 with the launch of several residential projects including its almost 1,000 hectare township project in Sta Rosa, Laguna, dubbed Eton City.