ETON Properties Philippines, Inc. (EPPI), the real estate arm of the Lucio Tan Group, has earmarked P900 million in capital expenditures (capex) for 2025 to support its property enhancement programs and township redevelopment.
“We’re staying focused on what matters: building better spaces, improving the way people live and work, and responding to what our markets need,” EPPI President and Chief Executive Officer Kyle C. Tan said in a statement on Wednesday.
EPPI also reported a 71.45% decline in its net income to P213 million for 2024, down from P746 million a year ago, mainly due to a one-time P503-million inventory valuation gain recognized in 2023.
The decline was also attributed to increased costs, particularly in vertical and horizontal development activities, maintenance and repair work, taxes, and personnel, it said.
“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,” Mr. Tan said. — B.M.D. Cruz
