Anchor Land announces new projects
More News from Doris C. Dumlao
MANILA, Philippines—Anchor Land Holdings Inc. is to break ground for three new upscale residential projects and two new commercial developments this year in line with plans to sustain a double-digit annual growth, top officials said.
In a press briefing after the company’s annual stockholders meeting on Thursday, Anchor Land vice chair Steve Li said the five new projects to be rolled out this year would require P8 billion.
The three residential projects, which will bring to the property market 1,900 new units, will be completed in three to four years and bring in about P15 billion in revenues, while the two new commercial projects will be ready in one-and-a-half years’ time, Li said.
For this year alone, the company has earmarked P5 billion in capital outlays for a mix of new and ongoing projects. The company is working to increase both net profits and revenues this year by double digits, said chief finance officer Neil Chua.
In about five years, Chua said, Anchor Land would grow its recurring income stream from rental portfolio to about 10 percent total revenues. In 2012, rental income amounted to P171.47 million, three times higher than a year ago but accounting for only about 4 percent of P4.14 billion in revenues last year.
The company breached the P1-billion net income mark for the first time in 2012.
The two commercial developments that Anchor Land plans to break ground for this year are: the 12-story One Logistics building in Baclaran (10,000 square meters with gross leaseable area) and; the 10-story One Soler which will offer warehousing facilities in Divisoria, to be built near the intersection of Soler and Reina Regente Streets (3,500 sqm).
Among the new residential projects to be launched this year is Monarch Parksuites, a luxury residential project with about 1,500 residential units that will rise along Manila Bay in between Pagcor Entertainment City and SM Mall of Asia. The units will range from 28 to 280 sqms in size priced at between P3.5 million and P20 million.
The two other projects are the Oxford Parksuites and Princeview Parksuites which will have a total of 400 residential units priced at between P4 million and P12 million each.
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