By Jenniffer B. Austria | Jun. 14, 2015 at 10:40pm [
manilastandardtoday.com]
Property developer Anchor Land
Holdings Inc. said it plans to spend P21 billion this year to complete existing
projects and start the construction of new ones.
Anchor Land said in a filing with the
Philippine Stock Exchange it was embarking on its first office development, the
Anchor Land Corporate Center, to provide the company with another source of
recurring income.
The twin office building at Aseana
complex, once completed, will offer Grade A green office space that will cater
to large companies looking for headquarters.
“Anchor LandCorporate Center allows us
to ride on the rapid growth of the business process outsourcing industry and
allows us to break into an ancillary industry,” Anchor Land said.
The company said it would also
continue to spend for the development of its Admiral property along Roxas
Boulevard in Manila.
Anchor Land said the Admiral property
was now nearing completion, which included a new Admiral Hotel, which would be
part of the McGallert Collection of international hotel operator Accor. The
hotel is scheduled to open in 2017.
Another component of the project is
the development of luxurious Admiral Grandsuites.
In Binondo, were most of the company’s
high-rise condominiums are located, Anchor Land is building the 63-story Anchor
Grandsuites, the tallest building in Manila and in all Chinatowns around the
world.
The property firm said to boost
recurring income, it would start construction of One Soler, a 10-story
structure that will offer warehousing facilities in the Divisoria area, one of
the country’s oldest commercial and trading centers.
Also in the pipeline is OneLogistics,
which will offer safe, secure and convenient warehousing facilities in
Baclaran, as well as retail spaces.
“Complementing our real estate sales,
we aim to further strengthen our recurring income projects or assets, going
forward to increase its contribution to our net income,” Anchor Land said.
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