Property developer Anchor Land has broken ground in Pasay City for the 3,000-bed twin-tower Cosmo Suites, the first in the pipeline of dormitory buildings it will build to open up a new stream of recurring revenues for the company.
Anchor Land entered the dormitory development business with a commitment to invest at least P5 billion to make available about 10,000 beds to business process outsourcing (BPO) workers in urban areas in three years’ time.
The 16-story twin-tower Cosmo Suites, which will require a P1.5-billion investment, is the first of such urban bed-spacing facility projects of Anchor Land.
Cosmo Suites will also cater to hotels and casino workers in the Bay area who need a halfway home during weekdays to cope with worsening traffic conditions in Metro Manila.
“We have meticulously planned for each unit, taking into consideration how our clients can colive in a room in the most efficient way,” Anchor Land chief executive officer Steve Li said.
Cosmo Suites offers more than 800 22- to 32-square-meter units.
Li said Anchor Land had undertaken a comprehensive study to understand the demand of young professionals for alternative bed spacing that offered “secure and affordable, yet high-quality and upgraded lifestyle.”
The new property will have round-the-clock security and CCTVs. Tenants will be given security access key cards.
Cosmo Suites is designed to have condominium-like amenities, including an open lounge area, a 20-meter lap pool, a fitness gym, a basketball court, a badminton court, and a game room.
“With Cosmo Suites’ high-end amenities and industrial interior design, we offer our clients a condo-like living,” added Li.