Eton Properties Philippines, Inc. (EPPI), the real estate arm of the Lucio Tan Group, is allocating P900 million in capital expenditures for 2025 to fuel property enhancement initiatives and township redevelopment projects.
The investment will focus on upgrades in master planning, zoning strategies, and amenities aimed at boosting long-term asset value and enhancing the customer experience.
“We’re staying focused on what matters: building better spaces, improving the way people live and work, and responding to what our markets need,” said Kyle C. Tan, EPPI president and chief executive officer.
“We’re not just building structures—we’re building the future of Eton with clarity and purpose.”
This planned spending follows a year of steady operational performance amid ongoing industry challenges. In 2024, EPPI recorded P3.1 billion in revenues, a 12 percent increase from P2.8 billion the previous year despite exit of Philippine Offshore Gaming Operators (POGOs) and the non-renewal of some retail tenancies.
While net income declined to P213 million from P746 million, this was largely due to a one-time P503 million inventory revaluation gain in 2023.
“2024 showed our ability to stay steady in a shifting market. We stayed focused on delivering long-term value, adapting where needed, and investing where it mattered most,” Tan added.
Higher expenses from construction, maintenance, taxes, and staffing also affected profitability.
Despite these pressures, Eton’s leasing operations held firm. The office segment remained a key contributor, with 70 percent of total office gross leasable area (GLA) leased, while commercial leasing achieved a 72 percent occupancy rate. Residential leasing was optimized to align with inventory sales strategies.
The residential business rebounded significantly, with revenue surging 266 percent to P501 million from P137 million in 2023, driven by strong sales in Eton City, Sta. Rosa, Laguna, and ready-for-occupancy units in Metro Manila.
With the P900 million capital plan, EPPI aims to strengthen its position in a competitive market and ensure sustainable growth beyond 2025.
