Confidence Returns to Philippine Real Estate Market

Posted on Aug 17 2009 | Filed in: News

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Things are looking up in the Philippine real estate market, as Megaworld Corp., Filinvest Land Inc. and Eton Properties Philippines report gains in their first half earnings of the year 2009. This performance was brought about by higher sales brought about by a return in investor confidence.

Megaworld’s net income grew by 12 percent to P2 billion, while consolidated revenues increased by 16 percent to P8.73 billion. Of this total, real estate sales account for P6.07 billion, up by 15 percent over the same period in the previous year.

Eton’s net profit reached P40.6 million, in contrast with the previous P140.2 million loss. Revenues of P503.8 million came from One Archers Place, South Lake Village at Eton City, and part of The Manors at North Belton Communities.

Among the other residential projects of Eton are:

Among Eton’s office projects are: Eton Cyberpod Centris and Eton Cyberpod Corinthian. These will be operational by the 3rd quarter of 2009, while commercial projects Centris Station and Centris Walk are targeted to start operations in the fourth quarter of this year.

Eton’s reservation sales grew 16 percent over the last quarter, as it enjoyed brisk sales from projects launched in April 2009. Among the other exciting projects are 68 Roces, West Wing Residences at North Belton Communities, and the second tower of One Archers Place.

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