June 22, 2016
Eton Properties to put up more BPO buildings
Eton Properties, the property arm of LT Group, is planning to put up more office buildings for business process outsourcing (BPO) firms. The move is part of Eton’s efforts to expand its leasing portfolio and the overall plan of LT Group to spend more on property development. LT Group, the publicly listed holding firm of Chinese Filipino business tycoon Lucio Tan, has increased its capital spending to P10bn this year, with the bulk of the spending going to property development. This year’s capex is almost 18 percent higher than last year’s actual spending of P8.5bn. The firm eyes new growth drivers to surpass last year’s P6.6-billion net income, up by more than 50 percent from P4.4bn in 2014.