ETON PROPERTIES Philippines, Inc. (EPPI), the real estate arm of tycoon Lucio C. Tan, has partnered with the Philippine National Bank (PNB) to simplify home loan financing for overseas Filipino workers (OFWs) and local buyers seeking to invest in residential property in the Philippines.
Through a memorandum of agreement, the partnership aims to provide a reliable financing channel for buyers interested in Eton鈥檚 residential developments, even while abroad, the developer said in a statement on Monday.
鈥淭his partnership with PNB strengthens that journey by giving overseas Filipinos and local end-users a clear, credible path to homeownership, one they can start even while abroad,鈥 Eton Sales Head and Senior Assistant Vice-President Robert Andrew G. Adriano said.
The partnership also offers buyers a 鈥渕ore guided pathway鈥 from inquiry to purchase, EPPI said.
OFWs remain a key market for the residential sector, supported by remittances and Filipinos seeking a retirement home in the country.
For this year, EPPI noted stronger momentum in its residential sales, driven by buyer confidence in well-located developments.
鈥淏y combining Eton鈥檚 focus on well-located developments with PNB鈥檚 trusted financial solutions, we are helping more Filipino families take a confident step toward homeownership,鈥 EPPI President and Chief Executive Officer Kyle Ellis C. Tan said.
EPPI鈥檚 residential portfolio includes Eton Tower Makati, Blakes Tower, and Eton Residences Greenbelt in Makati City; Eton Baypark Manila and One Archers鈥 Place in Manila City; and West Wing Residences, TierraBella, RiverBend, and South Lake Village in Sta. Rosa, Laguna.
The company鈥檚 real estate business also covers office buildings, commercial centers, and mixed-use townships nationwide.
EPPI鈥檚 parent firm, Lucio Tan Group, Inc. (LTG), reported a 15% growth in nine-month attributable net income to P22.57 billion. PNB accounted for 46% of profit (P10.4 billion), while EPPI contributed 2% (P481 million).
Shares of LTG on Monday rose by 1.67% or 24 centavos to close at P14.60 each. 鈥 Beatriz Marie D. Cruz
