Eton earmarks P10B to boost recurring income, turn Centris into BPO hub

Plans are afoot for Eton Properties Philippines Inc. to turn its 12-hectare Eton Centris into the business process outsourcing (BPO) hub of Quezon City, and boost its recurring income by spending P10 billion in two years.

“We are focused on boosting our recurring income because of the very strong BPO market,” Joseph Chua, officer-in-charge, told reporters at the sidelines of Eton's annual stockholders' meeting Friday.

The idea is to construct more BPO buildings in Centris, along EDSA and Quezon Avenue, where the company is now in the finishing stages of BPO building number four to raise the gross leasable space to 60,000 square meters, said Chua.

Actually, Eton – a member of LT Group Inc. – has six buildings in the pipeline on the way to transforming Centris as the BPO center in the city, he added.

Chief financial officer Wilfredo Pineda said part of the plan is to build a hotel in Centris.
 
However, not all of the money set aside for the two-year capital expenditures will be spent on Centris.

The property unit of beer and tobacco magnate Lucio Tan also plans to build BPO facilities in Makati and in the 1,000 hectare Eton City in Laguna, Chua noted.

In the next three year, the goal is for Eton to generate 40 percent of earnings to come from recurring income from14 percent last year.

In the case of residential developments, Chua noted the company is now re-mastering the plans for Eton City and turn the Laguna project into a world-class city south of Metro Manila. – VS, GMA News