Eton Properties Philippines, the real estate brand of the Lucio Tan Group (LT Group), is using a substantial portion of its P10 billion capital expenditure allotment to build to meet the continuing demand for its business process outsourcing (BPO) buildings. In a press briefing, LT Group President Michael Tan said Eton Properties will use P3 billion of the total capital expenditure this year as the group believes that the real estate business will continue to enjoy high occupancy rates. Demand should also continue for the buildings currently being constructed. Eton’s joint venture developments will also get some of the P10-billion capex, Tan said. The capex this year is higher than the P7.4-billion spent in 2017 as Tan said the prospects for the group’s business continue to be positive.
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