Anchor Land to launch 5 projects in 2nd semester

PROPERTY developer Anchor Land Holdings Inc. is set to break ground for three new upscale residential projects and two new commercial developments this year.

In a briefing after the company’s annual stockholders meeting yesterday, Anchor Land vice chair Steve Li said the five projects to be rolled out this year would require P8 billion in fresh investment.

The three residential projects—which will bring to the property market about 1,900 in new units—will be completed in three to four years and generate for the company about P15 billion in revenues, while the two commercial projects will be ready in one and a half years, Li said.

“We see a very sustainable demand for real estate,” Li said, adding that the market remained awash in cash.

For this year, the company has earmarked P5 billion for a mix of new and ongoing projects. The property firm is aiming double-digit growth in both net profits and revenues this year, said chief finance officer Neil Chua.

In about five years, Chua said Anchor Land would grow its recurring income stream from rental portfolio to about 10 percent of total revenues. In 2012, rental income amounted to P171.47 million, accounting for only about 4 percent of P4.14 billion in revenues last year.

The company breached the P1-billion net income mark for the first time in 2012.

The two commercial developments that Anchor Land plans to start this year are the 12-story One Logistics building in Baclaran (10,000 square meters with gross leasable area) and the 10-story One Soler which will offer warehousing facilities in Divisoria.

“By the time these two warehouse projects are finished, we would have 60,000 s.qm in gross leasable area,” Li said.