MANILA, Philippines — Taipan Lucio Tan has named his grandson Kyle Tan as president and CEO of his property business Eton Properties Philippines Inc. (EPPI) during the company’s annual stockholders meeting yesterday, consolidating the leadership of his business empire into the third generation Tans.
The young Tan, previously executive director of Eton and the younger brother of LT Group president and COO Lucio Tan III, also announced Eton’s plans to make its foray in Central Visayas, particularly in the booming province of Cebu.
Eton is expanding its core businesses, a strategic move that will help drive the company’s growth for the next five to 10 years, Tan said.
Though still in the planning stage, Eton’s new integrated township in Mactan, Cebu is envisioned to be a 35-hectare mixed use development to rise in Lapu-Lapu City in Mactan Island, Cebu.
It will feature the culture, and modernity in a relaxing seaside lifestyle community with a 600-meter beachfront, a sandy beach cover, and an internal lagoon area.
“We will make the best use of the site’s natural characteristics by preserving the natural environment while undertaking the multi-brand positioning for the future growth markets through various business segments. This project will be envisioned as the next business and leisure destination in one secured and exclusive community in Cebu,” Tan said.
Aside from its expansion plans in Cebu, Eton will also expand its community components at Eton City in Sta. Rosa, Laguna.
“To add more office spaces is part of our pipeline to build momentum in achieving a multi-billion income target in the next five to 10 years. There are so many opportunities in Eton City, and we are willing to take our strategies to adapt to the global standards by incorporating digital technology, world-class designs, and connectivity into its communities,” Tan said.
Eton was previously led by Lucio Tan’s son-in-law Ramon San Pascual who was appointed president and CEO of Eton in 2019 following the death of Lucio “Bong” Tan II.
Eton’s foreign counterpart, Eton Properties Ltd, is an established real estate brand in Hong Kong and mainland China.
Kyle, who worked as a software engineer at Microsoft in the US before moving back to the Philippines, graduated Magna Cum Laude from the University of Southern California (USC), where he took a Bachelor’s Degree in Computer Engineering and Computer Science.
He also pursued further studies and finished a Master’s Degree in Computer Science in the same university.