MANILA – Expansion moves by Philippine offshore gaming operators (POGO), along with strong client relations, boosted office space development of Eton Properties in the second half of the year.
In a statement on Wednesday, the property developer said it inked a deal with one of Southeast Asia's POGO firm for the lease of over 6,000 square meters of office space or two floors of Eton's eWestPod building inside the mixed-use development, Eton WestEnd Square near the Makati Central Business District.
Eton Properties executive director Kyle Tan said "with the perceived stability and confidence of a new administration and the market starting to normalize, Eton Properties gradually felt an increase in the demand for leasing spaces this second half of the year."
"These operators are not just from China, but within our neighboring countries in Southeast Asia as well," he said.
Tan said ease of business transaction is also a plus for the developer, noting that the company last August signed a three-year contract with a triple A construction company for the lease of more than 1,000 sq.m. space in Eton's Blakes Tower.
"Eton also sees the positive ripple effect of POGO in our leasing business because some of them are also looking for residential and commercial spaces, which are a good indicator of our overall growth in occupancy rate," he added.
Tan said the eWestPod is one of the company's two office projects within the mixed-use complex of Eton WestEnd Square.
He said the building was developed to provide a particular built-to-suit concept that allows the users to design and customize the space according to their needs.
Tan added the office building has four floors of spacious offices well-suited for multinational companies' local corporate headquarters or global support servicing and has direct access to the complete range of amenities and close to the modern conveniences of the Makati CBD.
It is located near the major thoroughfares of Ayala and Buendia Avenues such as the LRT-1 train, public buses, jeepneys, cabs, and even tricycles.
Eton Properties is the real estate brand of the Lucio Tan Group, one of the biggest business conglomerates in the Philippines.
Its foreign counterpart, Eton Properties Ltd., is an established real estate brand in Hong Kong and mainland China.
With an extensive land bank in strategic locations all over the country, Eton Properties specializes in office projects, commercial centers, and mixed-use township developments, as well as, high-end and mid-income high-rise and horizontal residential developments. (PNA)