Eton Properties Philippines Inc., the property arm of beer and tobacco tycoon Lucio Tan, yesterday launched its first high-end townhouse project on a 3.3-hectare property along Roces Avenue in Quezon City.

Eton president and chief operating officer Danilo Ignacio said during a press launch that the project, called 68 Roces, would offer 190 units of three- to four-bedroom townhouse units ranging from 158 to 238 square meters.

The three-bedroom units are priced at P12 million each while the four-bedroom houses are to be sold for P15 million each. Eton Properties expects to generate P2.5 billion in sales from the project.

Ignacio said the company would start construction of the project as soon as existing structure within the property, which is the ancestral house of Don Alejandro Roces, was demolished. The property is near the Amoranto Stadium.

Ignacio said Eton Properties saw a demand for the type of development despite the financial crisis.

?Demand for housing is always there. There are specific markets that have proven resilient even to the ongoing challenges facing the global economy,? Ignacio said.

?We are fortunate that we have a huge landbank from where we can choose projects for development whenever we identify a market that we can serve,? he added.

The project will have a retail component to serve the needs of the residents of 68 Roces.

The community will feature a state-of-the-art security from close circuit cameras at the entrance gate to electrified perimeter walls which combine with perimeter road network surrounding the townhouses.

Eton Properties will install electricity, telephone and cable TV wirings underground for increased safety and to preserve the skyline view of the residents.

Right in the middle of the residential community is a modern clubhouse featuring a 28-meter swimming pool and other amenities. Jenniffer B. Austria