Eton Properties Philippines expects 2009 to be a banner year as reservation sales for the first 11 months of the year already exceeds the entire 2008 sales by 5 percent to 10 percent.

In an interview, Eton president Danilo Ignacio said the firm is also reporting its first profitable year in 2009 pointing that it has been in the black since the first quarter. It had not been able to book pre-selling revenues last year in compliance with accounting standards.

Ignacio said the firm will be launching at least four new projects next year, in addition to the four launched this year, noting that an election year is always good for business.

Buoyed by continued strong reservations sales, Eton announced Sunday the launch of its fourth residential project for the year.

Dubbed 8 Adriatico, the residential condominium project is the company’s third Manila development and ideally located at the center of Manila’s tourist district.

Situated at the corner of Adriatico and Padre Faura Sts. and just beside Robinsons Place Manila, the new address places residents close to the city’s top schools, from UP School of Medicine to St. Paul University, and to government institutions like the Supreme Court and the Court of Appeals.

Tourist destinations from hotels, dining strips, bars and restaurants abound in the area and are year-round prime attractions for the tourist crowd.

Master planned for four towers, the 40-storey Tower 1 of the landmark project features studio, one- and two-bedroom units. Prices range from VAT-free P2.1 million for the studio units to P7 million for the 2-bedroom units.

Eton Properties began its entry into the Philippine real estate scene in 2007 with the launch of several residential projects including its 1,000 hectare township project in Sta. Rosa, Laguna named Eton City.

Just recently the company saw the start of operations of its first commercial project, Centris Station, located at the corner of EDSA and Quezon Avenue. Two BPO-oriented office projects have also began operations to complete the company’s transformation to a full-range property developer.