Anchor Land will spend P21B for both current and future developments
Driven by strong take-up of office and commercial space nationwide, local real estate brand Anchor Land is increasing their residential and rental portfolio with new projects that are attracting investor interest.
Their Admiral projects emerging along Roxas Boulevard are expected to form a new landmark in Manila. Adding to Admiral Baysuites, Admiral Grandsuites is an ultra-luxurious condominium that offers a 270-degree view of Manila Bay. And being the third project, Admiral Hotel will serve as the country’s first luxury boutique and will be part of Accor’s MGallery Collection of Hotels worldwide.
Expecting to be another landmark is the Anchor Grandsuites along Masangkay Street. This will rise as the tallest building in Manila and in all Chinatowns around the globe. Placed on a historical lot, this is set to give value to the country’s heritage and history.
Anchor Land Corporate Center will be the company’s first-ever office development located along ASEANA Avenue, Paranaque City. This ultra-modern 12-storey development will target booming business industries in the country such as Business Process Outsourcing.
Anchor Land has alloted a capital expenditure of P 21 billion for the development of these new projects, as well as the completion of One Logistics, a 15-storey commercial development in Baclaran; One Soler, a 10-storey structure for warehousing, offices and commercial spaces in Divisoria; and the 53-storey Admiral Baysuites in Roxas Boulevard.
Anchor Land also reported closing 2014 with their total assets amounting to P17.77 billion, surpassing their previous figure of P16.48 billion in 2013. This generated from the five additional projects lined up combined with their existing and on-going projects.
Stockholders’ equity hiked up by 10%, from P5.04 billion in 2013 to P5.54 billion in 2014, with earnings at P0.61 per share. Their rental income grew by 14% to P225.75 million as a result of increased uptake of their commercial facilities such as One Shopping Center, Two Shopping Center, and Mandarin Square.
Despite the drop of net income as compared to last year’s, Anchor Land promises growth, expansion and improvement that will benefit consumers, investors, clients, shareholders, and employees. “As we move ahead, you can trust that we at Anchor Land will continue to scan the real estate landscape for emerging opportunities, as we continue to provide the market with innovative products and services that meet our discriminating clients’ evolving lifestyles,” states Stephen Lee, Chairman Emeritus of Anchor Land.