Eton Properties earmarks P900M capex for 2025

Lucio Tan Group’s real estate arm, Eton Properties Philippines Inc., is setting aside nearly a billion pesos in capital expenditure this year to finance its upgrade strategies.

In a news release on Wednesday, Eton said it earmarked P900 million to support its property enhancement programs and township redevelopment.

The company said its capex initiatives include upgrades in master planning, zoning strategies, and amenities designed to improve long-term asset value and 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 Tan, Eton president and CEO.

“We’re not just building structures—we’re building the future of Eton with clarity and purpose,” added Tan.

In 2024, Eton booked a mid-double-digit top-line growth.

The company said it posted total revenues of P3.1 billion, up 12% from P2.8 billion a year ago.

Eton said its top-line growth came amid broader industry challenges, such as the exit of Philippine Offshore Gaming Operators (POGOs) and the non-renewal of some retail tenancies.

“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,” said Tan.

Meanwhile, the property company saw its bottom line slip to P213 million from P746 million year-on-year “due to a one-time P503-million inventory revaluation gain recorded the previous year.”

Eton said increased costs—particularly from vertical and horizontal development activities, maintenance and repair work, taxes, and personnel—also contributed to the decline in profits. — VBL, GMA Integrated News