MANILA, Philippines — LT Group Inc. (LTG) of taipan Lucio Tan is injecting P3.5 billion in fresh capital into its real estate subsidiaries to support their business growth.
LTG said that it has finalized the capital infusion amounting to up to P2.5 billion for Eton Properties Philippines Inc. and P1 billion for Eton City Inc.
For Eton City, the capital infusion will be done through LTG’s subscription of 50 million shares in the company at P20 apiece.
Eton City is a subsidiary of Eton Properties which specializes in residential developments.
“The capital infusion will help Eton Properties and Eton City’s business growth and to strengthen their capital position,” LTG said.
Eton Properties, which has spent nearly two decades establishing itself in the real estate industry, is setting its sights on refining its brand and strengthening operations as it embarks on the company’s next phase of growth.
Over the years, the company has built a strong foundation with its high-end and mid-income residential developments, office projects, commercial centers and mixed-use township developments across the country.
Moving forward, the company is focused on enhancing its developments, refining customer touchpoints and ensuring its long-term stability.
To fund its property enhancement programs and township redevelopment, Eton Properties has earmarked P900 million in capital expenditures this year.
The investments will include upgrades in master planning, zoning strategies as well as amenities designed to improve long-term asset value and customer experience.
Eton Properties said that key investment decisions made in 2024 has positioned the company for long-term profitability and is expected to strengthen its market position in the years ahead.
Last year, the company generated revenues of P3.1 billion, up by 12 percent from the previous year’s P2.8 billion.
