Tan’s grandson will prioritize Eton’s steady income stream
MANILA, Philippines – The grandson of tycoon Lucio Tan, Kyle Tan, who was recently named head of operations for Eton Properties in the Philippines, said his first job at the real estate company was to maintain a revenue stream healthy in a post-pandemic era.
Eton reported a net profit of 550 million pesos in 2021, 31% lower than the 802 million pesos recorded a year ago, due to lower sales of residential units and lower rental income .
Young Tan outlined plans to take Eton into the post-pandemic era, including entering into more joint ventures and partnerships.
Eton would also step up its digitization efforts, he said.
“One of the key elements of business sustainability is diversification. We will venture into other businesses to tap into other market segments with a different customer base,” Tan said.
It aims to complete Eton Properties’ ongoing projects, such as the 36-story Blakes Tower in Makati and Eton City Square in Laguna, to add revenue and boost the company’s portfolio.
By this quarter, the company will launch Eton City Square, which will bring an additional 5,824 square meters of lettable space to the company.
“The immediate concern is to finish the pandemic environment with the right portfolio systems and pipelines that will evolve as the market rebounds. I would also like to further collaborate and build synergies between Eton and other parties to further increase growth said Tan.
In addition to joint ventures and the realization of projects, it aims to lead the company towards digital innovations.
“I think moving to a digital landscape could potentially add another dimension to Eton’s portfolio, such as customer automation services, augmented reality, virtual reality and other virtualizations,” Tan said.
As Executive Director, Tan is responsible for overseeing property management, human resources, lease management, marketing, public relations and corporate communications, and customer service at Eton Properties.
He is concurrently Executive Vice President of Tanduay Distillers Inc.
Before joining the real estate branch of the Lucio Tan group, he worked as a software engineer at Microsoft.
A magna cum laude graduate of the University of Southern California with a bachelor’s degree in computer engineering and computer science, Kyle is the son of the late Lucio “Bong” Tan Jr.
Eton Properties is part of LT Group Inc. Its overseas counterpart, Eton Properties Ltd, is a real estate brand in Hong Kong and mainland China.
With an extensive land bank in strategic locations across the country, Eton Properties specializes in office projects, shopping centers and mixed-use township developments, as well as middle-income and high-rise horizontal and residential developments. top of the line.