Anchor Land sets P9-B capex

Upscale property developer Anchor Land Holdings Inc., aims to become a significant new player in hospitality and leisure estate projects, has earmarked P9 billion in fresh capital spending for various property projects in 2018.

“As we finish this year strong, we are gearing up for a bigger and better 2018. We will not be limited to just luxury office and residential developments in Metro Manila. Anchor Land is also intensifying its presence in other key locations around the country,” Anchor Land chief executive officer Steve Li said in a statement.

Anchor Land’s first foray in hotel development is the upcoming Admiral Hotel, located within the same luxury complex alongside Admiral Baysuites and Admiral Grandsuites, a roster of ultra high-end developments along Roxas Boulevard.

Baylife Venue in Bay City, another tourism-related offering, is pitched as a hub for leisure and corporate functions. It will also house East Ocean Restaurant, touted to be the Philippines’ largest seafood destination which will cater to local and international tourists.

Next year will also mark Anchor Land’s foray into Coron and Boracay, two of the country’s most popular beach destinations.

Resort-hotel developments in Coron and Boracay are intended to attract both end-users and vacation rental or time-share investors. These new ventures are seen to position Anchor Land as the “newest major player” in the hotel and tourism sector.

Anchor Land also remains bullish on its traditional bailiwick, Manila’s Chinatown, where it has 10 projects, some completed and others still ongoing. It seeks to alter the landscape of Chinatown with the development of Anchor Grandsuites, envisioned to be the tallest residential condominium to rise in Manila City and in all Chinatowns around the world.

Also in Binondo, Eight Alonzo is expected to break ground this coming year. This residential tower is designed to cater to starting families who want to improve their lifestyle.

Encouraged by the success of One Soler Logistics, Anchor Land is embarking on a similar facility in the Binondo area. Its upcoming Juan Luna Logistics in Juan Luna Street is located at the heart of Divisoria bargain district, a leading shopping hub for bargain-hunters.

At Entertainment City in Manila Bay, Anchor Land’s most luxurious residential project will rise. Copetone Baysuites is seen building on the success of SoleMare and Monarch Parksuites.