Eton Properties Phils. Launches Second Project on Roxas Blvd.
Eton Properties Phils. Launches Second Project on Roxas Blvd.
Philippine Star
Eton Properties Philippines, Inc. (formerly Balabac Resources and Holdings Co.) launched yesterday its second real estate project, Eton Baypark located at the corner of Roxas Boulevard and Kalaw St., with 40 percent of the units already reserved or are being looked at by investors.
Eton Philippines vice-chairman and chief executive officer Harry Tan said Eton Baypark will cater to the needs of Manila-based businessmen and entrepreneurs looking for a unique residential condominium.
“This project is the only property strategically located at the heart of historic Manila and offers majestic views of both Manila Bay and Rizal Park,” said Tan.
Eton Properties Phils., Inc. President and COO Danilo E. Ignacio said the 25-story Eton Baypark will have a total of 210 units and will be fully constructed in December 2010. Construction of the project will start early next year.
He said the development cost of the project forms part of the approved P10 billion capital expenditure program earlier approved by the company’s board.
He said the studio units, with an area of 33.7 square meters, are priced at P2.5 million while the two-bedroom units with a floor area of 93 square meters, will be sold at between P8 million to P9 million.
“What sets this project apart from other residential condos in the Manila district is its “Move-In Ready” offering as each unit is fully-fitted with elegant furnishings, appliances and all the comforts of a modern home,” Ignacio said.
He said the project offers convenient access to lifestyle and commercial centers like SM Manila, Robinsons Manila, Baywalk, and the famous night spots of Malate.
The launch of the project follows the warm reception to Eton Philippines’ first residential project, Eton residences Greenbelt, which is almost sold out just two months after it was launched.
The 39-story Eton residences Greenbelt is the first all-loft luxury condominium in Makati.
To take advantage of the strong interest of investors in its products, Eton is now preparing for its next two projects located in Ortigas – the Eton IT Center (a 17—story building that will provide a 30,000 square meter space for business process outsourcing companies), and Eton Residences Ortigas (two 38-story towers with a retail component).
Other projects in the pipeline include Eton Mactan (formerly Coral Reef resort) and the multi-billion peso integrated township in a sprawling 1,000-hectare property in Sta. Rosa, Laguna which is being groomed as the new Makati of the South.
The property, dubbed Eton Mega City, will have commercial, residential developments, school, hotel and a leisure/retirement mecca. It lies at the entrance of the current Asia Brewery / Greenfield interchange.
Eton Mactan will transform the 34-hectare property into a tourism estate that will house a five-star hotel, condotels, residential condominiums and luxury garden villas.
Ignacio said the company is also considering developing a retirement haven in Makati.
Funding for the company’s projects would come from either fresh capital infusion or a possible share offering, he said.
Eton has a vast landbank located in the Makati and Ortigas central business districts, Manila/Pasay/ Parañaque Bay Area, Mactan Beach, Cabuyao, Calatagan and other strategic locations in the Philippines.