Eton Properties Philippines Inc., the real estate arm of the Lucio Tan group, has unveiled its second mixed-used project which will rise on a 12-hectare property at the corner of two major thoroughfares, EDSA and Quezon Avenue, in Quezon City.
Called Centris, the high-end development will feature commercial, retail and residential components. The construction of the project's initial phase, which is composed of seven office buildings, has already started.
By December this year, Eton will complete One Cyberpod Centris, the first of the office buildings that will cater to business process outsourcing companies. It has 12 floors with a gross floor area of 18,000 square meters.
"We are in discussion with a dozen locators for Cyberpod, with the remaining buildings to be constructed on a built-to-suit basis," said Eton president Danilo Ignacio.
Meanwhile, Centris' second phase, Centris Walk, will be a dining and retail strip sporting a variety of upscale restaurants and bars as well as retail shops. It will have over 900 secure parking spaces.
For the residential component, Eton is planning to build 10 condominium towers which will be introduced in 2009.
Ignacio said they are most excited about Centris' commercial center, whose key tenant will be SM Hypermarket. He said they hope to forge a long-term partnership with the company, which is controlled by mall magnate Henry Sy.
"SM Hypermarket will be allowed to fit out by the fourth quarter of next year to prepare them to open before Christmas," Ignacio noted.
SM Hypermarket executive vice president Robert Kwee, on the other hand, said the project will help the company expand its market.
"This will help us reach out to more people. There are a lot of people passing through the area," he added.
Centris is the second major township project of Eton following the launch of its 1,000-hectare Eton City in Sta. Rosa, Laguna.
It is a major component of the Triangle Park central business district, which was conceptualized by the World Bank. Triangle Park, which encompasses 250 hectares of prime properties from North to East Avenue, is envisioned to be the "center of all commercial activities in Metro Manila in the coming years."