Close  

Anchor Land nets P1.11 B in 2013

Screengrab from www.anchorland.com.ph

MANILA, Philippines — Anchor Land Holdings Inc. grew its net profit last year by 8 percent to P1.11 billion on higher revenues from boutique residential development projects and rental income.

Last year’s performance, supported by a 38 percent growth in revenues to P5.7 billion, translated to a return on equity of 24 percent.

ADVERTISEMENT

Citing strong investor appetite for residential condominium projects Anchor Skysuites and Admiral Baysuites in Manila, the company reported that real estate sales had jumped by 41 percent to P5.08 billion in 2013.

“Anchor Land benefitted from the continuing strength of the Philippine economy and the real estate sector,” Anchor Land chair Stephen Lee said in a statement. “This translated to robust demand for our projects from both local and overseas investors, as well as for our property management services.”

FEATURED STORIES

The company spent P4.5 billion for capital outlays in 2013 to complete additional projects in its existing developments. In July 2013, it broke ground for five new developments, namely, the four-tower Monarch Parksuites in the Bay City; Oxford Parksuites and PrinceviewParksuites in Chinatown; and commercial buildings One Logistics and One Soler, which will offer warehousing facilities.

“Anchor Land aims to further sustain our profitability momentum in 2014 by focusing on our core strengths, namely: luxury residential developments aimed at niche market segments, and a customer service program that puts the highest premium on client satisfaction and convenience,” Lee said.

Admiral Baysuites, a 53-story luxury residential condominium and European inspired five-star boutique hotel on Roxas Boulevard, aims to build on the historic Admiral Hotel and transform it into a modern-day landmark. Once it opens in 2016, it will be the first hotel in the country to be a part of the Accor Group’s prestigious MGallery Collection.

Anchor Land said it would continue building iconic projects this year, and part of the pipeline is another landmark residential project in Binondo – this time, on a historical lot along Masangkay Street on which once stood a house that  Jose Rizal frequented and where the original Noli Me Tangere script was kept hidden.

With this new project, Anchor Land is making a pitch for families looking to purchase a residence replete with heritage and “an ideal ancestral home for many generations.”

RELATED STORY

Anchor Land announces new projects

ADVERTISEMENT

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Anchor Land, Business, Profit, Real Estate
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.