Wednesday, July 25, 2007 Tycoon to build new condo in Ortigas Center
ETON Properties Philippines Inc., the realty arm of taipan Lucio Tan, has launched its third realty project - Eton Emerald Loft – which will cater to professionals and call center workers in Pasig, Mandaluyong and Quezon cities.
Eton president Danilo Ignacio said Eton Emerald Loft is a 41-storey condominium which will be built on a lot at the corners of Emerald, Sapphire, and Garnet Roads in Ortigas Center. It is a 3,422-square-meter foreclosed property of Eton Philippine's sister-company Philippine National Bank (PNB).
Ignacio said the building will have 100 one to two-bedroom loft units, which will be sold at P2.2 million to P6 million.
"With the two projects substantially sold, we expect to start construction by middle of next year," said Ignacio referring to Eton Properties' Eton Residences Greenbelt and Eton Baypark projects earlier launched when the company introduced itself to the market.
Ignacio said he is confident that Eton Emerald Loft would be a hit because of its proximity to common workplace in the Ortigas business district and leading commercial centers like SM Megamall, Robinson’s Galleria, Metrowalk, Shangri-La Plaza Mall, The Podium, and St. Francis Square aside from medical and educational institutions.
Ignacio said they have earmarked P10 billion as initial funding for the projects.
Aside from the Emerald Loft, Ignacio said Eton Properties already submitted to the Quezon City Government their development plan for their Quezon City project, which is on a 12-hectare property of the Lucio Tan Group of companies in the area.
Ignacio said the property intends to house mixed-use development, which will include a businessman's hotel, business process outsourcing offices, and residential units. (MSN/Sunnex)
