ETON Properties Philippines is bullish on sustaining its growth momentum this year, as it aims to grow leasing revenues and optimize its land bank assets.
“With its strong results coming off 2019 and its continued momentum, any speculations regarding Eton Properties disposing of assets, or the company itself being offered to interested parties are unfounded and baseless,” Eton Properties Chief Operating Officer Karlu Tan Say was quoted as saying in a statement.
“Beyond giving us healthy profit margins, our well-balanced portfolio mix allows us to better manage our risks while giving us the opportunity to gain from the appreciation of land values in the future. As the Philippine economy grows, it is imperative that we continue strengthening Eton Properties as an organization.”
As of the third quarter, Eton Properties recorded a 99% surge in net income to P626 million, on the back of a 32% rise in revenues to P2.46 billion.
Eton Properties expects a rise in leasing revenues this year, particularly from its commercial properties such as Eton Centris in Quezon City and Eton City Square in Sta. Rosa, Laguna, and its office buildings.
Eton Properties is also looking to partner with hotel and leisure locators for its 36-hectare beach front property in Mactan, Cebu.
