Eton Properties ties up with PAL for Ortigas residential project

Upstart property developer Eton Properties Philippines Inc. has teamed up with Philippine Airlines (PAL) to promote its latest residential project, Eton Emerald Lofts, located at the heart of the bustling Ortigas business and commercial district.

Eton president Danilo Ignacio said buyers of the 41-story twin tower Eton Emerald Lofts will be rewarded with Mabuhay Miles points to any PAL destination, local or international.

Under the promo, each homebuyer will earn 7,500 Mabuhay Miles points for every P500,000 of a unit’s total contract price.

Ignacio said buyers of one-bedroom units will get a minimum of 30,000 Mabuhay Miles points equivalent to two round-trip economy class tickets to Hong Kong at 15,000 miles per person or at least three round trip tickets to Cebu at 8,000 miles per person.

Buyers of two-bedroom units, on the other hand, will get a round-trip ticket to Los Angeles, USA on economy class at 60,000 miles per person.

PAL president Jaime Bautista said this special mileage promotion, which is not retroactive, is a first in the real estate industry.

Ignacio said this unique promotion is their way of thanking their clients. “With Eton Emerald Lofts, its all about giving more value to future residents and investors.”

He said the group will review whether they could extend the program to their other projects.

Eton Emeralds Lofts – the first all-loft residential project in Ortigas, will have a total of 1,000 units priced between P2.2 million to P6 million each.

A one-bedroom unit, with a floor area of 35 to 40 square meters, sells for P2.3 million to P3 million while a two-bedroom unit occupying 56 to 83 square meters of space, would cost P3.5 million to P6 million.

Ignacio said the company has, so far, pre-sold 50 units of the Emerald Lofts, mostly two-bedroom units.

Development of the project will commence in September 2008 with a target completion on December 2011.

Eton is targeting balikbayans or Fil-Ams for its latest project given its proximity to the country’s biggest shopping malls like SM Megamall, Robinsons Galleria and Edsa Shangri-La Mall; luxurious hotels, restaurants and nightspots.

Eton’s first two projects – Eton Residences Greenbelt and Eton Baypark Manila at the corner of T.M. Kalaw and Roxas Boulevard, are nearly sold out.

Another project to rise in Ortigas is the Eton IT Center, a 17-story building that will provide a 30,000 square meter space for business process outsourcing companies.

Eton is also planning to develop a 2.7-hectare property fronting Manila Bay into a residential and commercial project. The property used to be owned by the Tan Yu Group.