Posted on
July 25, 2013 11:21:17 PM [ BusinessWorld Online ]
LISTED Anchor
Land Holdings, Inc. expects to eventually generate about P15 billion in
revenues from three residential projects it plans to launch this year, a top
company official said yesterday.
The company
is set to start three residential and two commercial projects later this year,
Chief Executive Officer Steve Li told reporters after the company’s
stockholders’ meeting yesterday in Makati City.
“For the
three residential projects, we are looking at P15 billion in terms of
revenues,” Mr. Li said.
The five
projects that are set to be launched this year are:
• 39-story
Oxford Parksuites luxury condominium in Binondo, Manila;
• 17-story
Monarch Parksuites luxury residential development in Parañaque City near Manila
Bay;
• Princeview
Parksuites residential development in Binondo, Manila;
• 12-story
One Logistics commercial center in Baclaran,Pasay City; and
• 10-story
One Soler in Sta. Cruz, Manila.
Construction
is expected to be finished in the next three to four years, Mr. Li said.
Mr. Li also
said the company expects to grow its profit and revenues by double-digit rate
this year, though he would not give specific figures.
“Based on
what we have seen, we are confident that we should have double-digit growth for
this year,” Mr. Li said.
Last year the
company’s net income hit P1.03 billion, around 22% more than the P841.7 million
earned in 2011.
The company’s
net income has so far grown by around 13% to P295.41 million in first quarter
from P262.24 million in the same period last year.
Revenues rose
by 29% to P1.58 billion from P1.23 billion on “improvement in consolidated
revenues as a result of the continued sales and construction of residential
condominiums, namely: Wharton Parksuites, Anchor Skysuites, Solemare Parksuites
Phase 2, Admiral Baysuites and Clairemont Hills Parksuites.”
Wharton
Parksuites, Anchor Skysuites and Admiral Baysuites are located in Manila;
Solemare Parksuites Phase 2 is in Parañaque City; while Clairemont Hills
Parksuites in San Juan City.
The property
developer has programmed about P5 billion in capital expenditure for this year,
more than a tenth from P4.5 billion last year.
Shares of
Anchor Land surged by P1.30 or 5.56% to close at P24.70 apiece yesterday from
P23.40 each on Wednesday. -- Cliff Harvey C. Venzon
____________________________________________________________
