Anchor Land builds 7 property projects

Anchor Land Holdings, Inc. said it is taking full advantage of the bullish real estate market with seven simultaneous projects this year, underscoring the companys status as one of the countrys emerging developers today.

The projects range from commercial developments to luxury residential suites and the expansion of its best-selling mid-rise condominium project at the ASEANA Business Park in Parañaque City.

“This is our vote of confidence in the Philippine economy in general and the property sector in particular,” said ALHI chairman Stephen Lee Keng. “It is also our way of living up to our motto of 100 percent commitment to deliver all projects on time, without sacrificing the quality and beauty of our projects.”

Lee said construction works are in full swing in four of the projects: The SoleMareParksuites Phase I near Macapagal Boulevard at the ASEANA Business Park, Two Shopping Center along Cuneta Avenue in Pasay City, the Anchor Skysuites along Ongpin Street in Binondo, and the Wharton Parksuites along Masangkay Street, also in Binondo.

SoleMareParksuites and Two Shopping Center are being developed by ALHI subsidiary Posh Properties Development Corp. (PPDC) while Anchor Skysuites is being undertaken by Gotamco Realty Investment Corporation (GRIC). Wharton Parksuites is a project of another subsidiary, Manila Towers Development Corp. (MTDC).

The company has recently broken ground with its Admiral Baysuites project under subsidiary Admiral Realty Co., Inc. (ARCI) as well as with SoleMare Parksuites Phase II while a seventh project, Clairemont Hills Parksuites under parent company ALHI, will be launched by the second quarter of the year.

Lee said bulk of ALHI’s current revenues comes from the best-selling SoleMareParksuites Phase I, now almost entirely sold out. He said buyer interest remains strong for the project, prompting them to launch a second phase.

Another bestseller is the 39-story Wharton Parksuites, which caters to those who send their children to the prominent Chinese schools in Binondo along Masangkay Street.

Last year, Anchor Land started development of its signature project in Chinatown, the Anchor Skysuites, which at 56-stories high is set to become the tallest edifice in Binondo and in all Chinatowns around the world. The units are scheduled for turnover by 2014, most are already taken.

Meanwhile, the company is redeveloping the historic Admiral Hotel in Manila into a European-inspired boutique hotel with white gloved service that will redefine luxury in the Roxas Boulevard area. Behind the hotel will rise a 53-story luxury residential condominium where some units are more than 1,000 sqm with their own swimming pool.

Construction of Two Shopping Center in Pasay City is already on the fourth level. It has five floors of shops and retail spaces while the sixth floor is exclusively for parking, and the seventh and eighth floors are for warehouses. It is targeted for turnover by the third quarter this year.

ALHI’S newest undertaking, the Clairemont Hills Parksuites, is a mixed use development in San Juan City that will be launched by the second quarter this year.

Anchor Land has completed and turned over three luxury projects: The 33-story Lee Tower (ALHI) along Gandara Street in Binondo, the 33-story Mayfair Tower (ALHI) along UN Avenue, and the 39-story Mandarin Square (MTDC) along Ongpin Street.

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