Eton Properties Philippines Inc., the real estate arm of tycoon Lucio Tan, plans to add 170,000 square meters of leasable space over the next five years, a top executive said Wednesday.
Eton Properties chief operating officer Josefino Lucas said in an interview following the annual stockholders’ meeting the company was focusing on building leasable assets, including office and retail projects.
“We plan to introduce several thousands of leasable space every year,” Lucas said.
Among the projects in the pipeline are a mixed-use development in Pasay City that will have office and hotel components and a 11.5-hectare retail strip in Sta. Rosa, Laguna called The Courtyard.
Eton Properties is also set to launch Eton Nexus tower 1, a 33-story office project in Ortigas Center, and Arcadia, a one-story commercial development in San Juan City.
The company said with renewed focus on recurring business, the share of leasing business was expected to account for 60 percent of total sales, from the current 45 percent.
Eton Properties in 2016 broke ground on Eton West End Square, a one-hectare, mixed-use project in West Makati which will house an office tower, a boutique mall and high-rise residential components.
It also began construction of three additional clusters at Centris Walk 2 in Eton Centris and the 25-story Cyberpod Centris Five, the fifth BPO facility in Eton Centris.
Lucas said the company was interested in re-listing its shares in the Philippine Stock Exchange. “We are waiting for leasing assets to be of sizeable amount so when we go to the back the market we have recurring income to speak of,” Lucas said.
