MANILA, Philippines - Encouraged by strong market demand, Lucio Tan-led Eton Properties Philippines Inc. has made a foray into the affordable housing segment with its initial development called Aurora Heights.
Aurora Heights is a transit-oriented project consisting of two 20-storey mid-rise buildings in Loyola Heights, Quezon City.
It features fully furnished, move-in ready condominium units with area of 18 square meters, and 28 square meters priced at P1.5 million and P2.2 million, respectively. Amortization starts at only P10,000 a month.
Eton President Danilo Ignacio said that the project is very ideal for start-up families and students in nearby schools such as Miriam College and Ateneo De Manila University.
The first tower, which will offer 627 rooms, will be completed by December 2013.
If the project becomes successful, Ignacio said they will put up similar developments in Manila and Makati City.
Eton's projects have been enjoying strong demand, with the company's year-to-date reservation sales already matching what was booked for the whole of 2009.
The 3-year-old company has launched a total of 29 projects, which include mid-range to high-end residential projects, office and commercial buildings, and township developments.