ETON PROPERTIES PHILIPPINES Inc., the real estate arm of tycoon Lucio Tan, is launching today its first 150-hectare residential “island lots” village within the 1,000-ha township project called “Eton City” in Sta. Rosa, Laguna. The island village, dubbed “South Lake Village” is the centerpiece of Eton City and will feature 18 residential island surrounded by a 35-ha man-made lake. Each island, approximately one hectare in size, will have 8 to 10 residential lots of about 1,000 square meters each, Eton president Danilo Ignacio said. South Lake Village was inspired by similar developments in other countries such as Foster City in San Francisco and Dubai’s man-made island resorts, “The Palm” and “The World.” Foster City in San Francisco, an island built on engineered landfill by the bay served as the inspiration of the design of Lakeside Village, which Ignacio said was popular with Asians living in the United States. There are three lot types –lake village lots about 500 to 600 sq.m. each, lakefront lots measuring 600 to 800 sq. m. each and island lots that span 800 to 1,200 sq.m. each. Ignacio said that the lots would be sold at between P10,000 and P12,000 a square meter. Ignacio also said Eton may add a 19th island within the lake villahe project to cater to social events like weddings. Completion and turnover of South Lake Village is targeted for June 2009. The project broke ground last Dec. 8, 2007. |