The two Lucio Tan owned companies, Allied Banking Corporation and ETON Properties Philippines, Inc. have shaken hands on a joint venture agreement over the development of two of the bank-owned properties in Mania and Makati City.
The project sponsored by the joint venture will include the Eton Baypark Manila, a residential tower at the corner of Roxas Boulevard and Kalaw Street. The construction of the said condominuim started early last year and is expected for turnover by 2010.
The consortium is planning to launch 17 projects due to the good response they recieved on the above project which is substantially "Sold Out" despite the steep price tag for a unit (around P 2.5 million to P8 million).
They are looking to house the projects on several locations like, Greenbelt, Ortigas, Laguna, Novaliches, to name a few.
Optimism remains high from the EPPI camp eventhough the year will be pitting along side the current global economic crisis. This is most likely due to their previous efforts on diversifying the market base, primarily offering properties to OFW whose continuing to stand up to the storm despite the previous assumption that the global recession will most likely affect the volume of remittances.
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