Anchor Land earmarks P4.5B for capex in 2012
Upscale property developer Anchor Land Holdings Inc. has earmarked P4.5 billion for capital spending this year, covering a mix of high-rise residential, office and commercial projects.
The listed company has unveiled new horizontal, vertical and commercial developments as part of its quest for new markets while it expands existing ones. Its portfolio of commercial projects is also seen to provide more recurring income in the near- to medium-term.
“We will continue our focus in Metro Manila where our company has established strong presence and loyal customer base particularly in the Filipino-Chinese community, ALHI chair Stephen Lee said in a statement.
The new projects include Oxford Parksuites, a “learning-focused” residential condominium in Chinatown. This project is a follow up to its Wharton Parksuites. Both developments are targeted toward those who study or send their children to Chinese learning institutions in the area.
Another new development is Clairemont Hills, a low-density suburban residential project in San Juan City which will feature clusters of three-storey townhomes and a medium-rise condominium at the center with a maximum of four units per floor. It adopts a tropical garden theme within a quiet and gated compound in a location close to many exclusive schools in the city.
Anchor Land has likewise acquired a prime property near its Admiral Hotel redevelopment project along Roxas Boulevard. The company intends to put up a premium commercial office building that will be fully leased out to businessmen and investors.
Another new project is One Executive Suites, the residential component of Two Shopping Center in Pasay City, Anchor Land’s first foray into the commercial development segment together with One Shopping Center. This will cater exclusively to traders and wholesalers in the Baclaran bargain shopping district.
Likewise in the drawing board is One Soler, an 18-storey commercial building with warehousing facilities in the Divisoria area.
Lee said ALHI would also continue the expansion of SoleMare Parksuites, the company’s most successful project in the Manila Bay area. The company has turned over Phase 1 of SoleMare consisting of two medium-rise condominium towers and is currently finishing two more towers that make up Phase 2. A third phase will be launched this year.
In 2011, ALHI grew its net profit by 49 percent to P842 million on the back of higher real estate revenues and lower costs. It aims to hit P1 billion in net profit this year.
