Eton Properties allocates P900M for property upgrades, reports 12% revenue growth

Eton Properties Philippines Inc., a real estate arm of Lucio Tan Group, plans to allocate P900 million for capital expenditure this year to fund property upgrades.

The company aims to enhance long-term asset value and customer experience through improvements in master planning, zoning strategies, and amenities.

Kyle Tan, Eton's president and CEO, emphasized the importance of building better spaces and responding to market needs.

Despite industry challenges like the exit of POGOs and non-renewal of some retail tenancies, Eton reported a 12% increase in total revenues to P3.1 billion in 2024.

The company's net income declined to P213 million from P746 million due to one-time inventory revaluation gains recorded the previous year and increased operational costs.