ANCHOR LAND Holdings, Inc. said it has sold-out its luxury
residential condominium project called Admiral Grandsuites along the
Manila Bay area.
The upscale property developer in a statement over the weekend said
it has recently topped off the 43-storey condominium, indicating that it
has placed the last beam of the building during construction.
While the listed firm did not disclose the sales value of the entire
project, it said each square meter was sold at P167,000 for all 51
units.
Amenities at the Admiral Grandsuites include a function hall, theater
room, fitness center, children’s club, garden deck, yoga room, game
rooms, KTV room, spa, and wellness rooms.
It has partnered with several consultants, including ASYA Design
Partners, Meinhardt Philippines —for consulting services in engineering,
BLG Facade Design Consultancy, New Golden City Builders &
Development Corp., and Jose Aliling Construction Management for the
development of Admiral Grandsuites.
Anchor Land targets to turn over the units to buyers by the fourth quarter of 2019.
The condominium is part of Anchor Land’s Admiral Property, which also
houses the 53-storey luxury Admiral Baysuites and the Admiral Hotel.
“Once completed, the Admiral Property will help tell the wonderful
history of Old Manila. Both local and international residents and guests
will be treated to a culture-rich luxury experience,” Anchor Land
President Digna Elizabeth L. Ventura-Sison said in a statement.
The complex is located near the Ninoy Aquino International Airport
and the Cultural Center of the Philippines Complex, the SM Mall of Asia,
as well as the Philippine Amusement and Gaming Corp.’s Entertainment
City which houses several hotels and casinos like Solaire and Resorts
Casino, City of Dreams Manila, and Okada Manila.
Since its incorporation in 2004, Anchor Land has developed mostly
luxury residential projects for the Filipino-Chinese community in
Manila, Pasay, Parañaque, and San Juan. Residential projects account for
90% of the company’s revenues, while commercial projects provide the
remaining 10%.
Earlier this year, Anchor Land Chief Executive Officer Steve Li said
the company is working toward increasing recurring revenue base to
contribute 20% of total revenues by 2021. In line with this, the company
is developing a seafood restaurant called Baylife Venue, a two-tower
BPO office called Anchor Land Corporate Center, and a bed space leasing
facility called Cosmo Suites. It also has resort developments in Boracay
and Coron, Palawan in the pipeline. — Arra B. Francia
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