Eton enters small office, home office mart

MANILA, Philippines - Eton Properties Philippines Inc. remains upbeat about the real estate sector as it announced its initial list of new projects slated for next year which include its entry into SOHO (Small Office Home Office) development.

SOHO is designed to support a quality life-style with minimal upkeep burden. It refers to the category of business which involves from one to 10 workers.

In a luncheon with reporters Friday, Eton president Danilo Ignacio said he expects sales momentum in the second half of 2009 to continue through next year especially with the company’s venture into SOHO development.

For its first SOHO project, the company is putting up a residential and office building in a SOHO development in Makati to be called Eton Tower City.  To rise on a 2,300 square meter property located behind the Rufino Towers on Ayala Ave., Eton Tower City will make available a total of 1,200 units (600 residential, 300 office and another 300 SOHO).

The units with a standard size of 22 square meters, will be sold at below P2.5 million VAT free.

The SOHO has gone through a great transformation in recent years as technology has enabled anyone working from a home office to compete globally. Technology has made this possible through webinar systems and telephone connections by VOIP and the like.

According to Ignacio, Eton Tower City will be the company’s fourth condominium project in Makati City after Eton Residences Greenbelt, Parkview Residences and Belton

Residences.

Eton is also set to build  a special events venue and the first of 12 residential condominium buildings in Eton Centris, a 12-hetare township project located at the corner of Edsa and Quezon Avenue. 

Eton Centris is already home to Centris Station, a 2-level commercial center anchored by SM Hypermarket. Centris Walk, a strip mall featuring an international mix of restaurants, bars and entertainment spots whih is slated for opening in the first quarter of 2010.

Aside from this, the company will build the second phase of West Wing Residences at North

Belton Communities in Novaliches which will involve larger-cut lots and houses as demanded by buyers in the area.

Eton began operations in February 2007 and has evolved into a full-range property developer with a wide portfolio of projects in mid-range to high-end residential developments, office and commercial projects and township developments.

Eton is an established real-estate brand in Hongkong, Shanghai, Beijing, Dalian and Xiamen.

During the first nine months of this year, Eton reported a net income of P67 million, a reversal of the P120 million loss incurred in the same period a year ago as consolidated revenues surged to P1.5 billion.