Manila 1590 [ 60F | res | pro ]

Anchor Land expects flat growth, launching P9 B worth of projects


Anchor Land Holdings, Inc. plans to launch P9 billion worth of projects this year but expects profit and revenues to be flat due to delays in securing permits for the construction of new residential condominiums.

In an interview after the firm’s annual meeting, Anchor Land vice chairman Steve Li said they are trying to make up for lost time now after spending the first several months of the year processing papers and permits.

“There were delays in the processing of papers, the right of ways. What we are doing now is trying to catch up. So at least we try to match what we achieved last year,” Li explained.

Anchor Land reported a net income of P1.11 billion for 2013 from revenues of P5.70 billion.

The firm is alloting P5 billion for capital expenditures this year, mainly for its residential projects Monarch Parksuites, Oxfort Parksuites, and Princeview Parksuites, as well as retail developments One Logistics and One Soler.

For this year, Anchor Land will launch the second phase of the 50-storey Admiral Grandsuites with a sales value of P1.5 billion and the 60-storey Manila 1590 which is expected to generate P8 billion in sales.

In Admiral Grandsuites, Anchor Land is offering 260 square meters targeted at buyers who are looking for spacious residences in Manila. Admiral Grandsuites is offering only two residential units per floor.

“After our Admiral Baysuites, this is the follow-on offering. The demand is very strong for big cut units. We always see ourselves as a niche market player. So we always target those underserved market that has demand,” Li said.

Anchor Land is developing its Manila 1590 in Masangkay street, Binondo, at the location of Higino Francisco’s house. Francisco helped Jose Rizal hide the manuscript for Noli Me Tangere.

“This new project, aside from featuring the usual Anchor Land signature lifestyle residential components, promises to provide the perfect investment for families looking to purchase a residence replete with heritage and an ideal ancestral home for many generations,” the company said.

Manila 1590 will offer 400 of two to five bedroom units with sizes ranging from 100-300 sq.m.

Manila 1590 will be completed in the next five years, while Admiral will be completed in the next four years. (James Loyola)


Source: http://www.mb.com.ph/anchor-land-expects-flat-growth-launching-p9-b-worth-of-projects/

Following some delays, four high-end residential developments are expected to launch in Manila, Bangkok and Phuket in the latter part of the year.

Bangkok-based Minor International PLC will be unveiling its luxury developments in the Thai capital and on the popular island resort destination Phuket after almost a four-year absence in the residential market, the Bangkok Post reported. The Thai developer is launching both its freehold luxury condominium project in Bangkok and Phuket-based luxury villas under the company’s premium hotel brand Anantara.

“Using a hotel brand to promote a residential project is a new trend for luxury residences. With the hotel brand, which usually comes with hotel services, the luxury project can mark up the price by 30 percent,” Minor’s senior vice president for real estate and head of residential sales Robert Collins told the Bangkok Post.

According to the company, its 15-villa community project on Layan Beach called Anantara Layan Phuket, valued at THB5 billion (USD154 million), is the most expensive property development on the island.

Meanwhile, Philippine developer Anchor Land Holdings Inc recently announced that it would launch two high-end residential developments before the end of this year after several months of dealing with right-of-way issues that caused the projects to be delayed, the Manila Times reported last week.

The company’s condominium development called Manila 1590, due for completion in 2019, will be a 60-storey residential tower with a total sales value of PHP8 billion (USD183.2 million), whilst the second phase of its 53-storey Admiral Grandsuites project is valued at PHP1.5 billion (USD34.35 million), slated for opening in 2018.

“Anchor Land aims to further sustain profitability momentum in 2014 by focusing on our core strengths, namely luxury residential developments aimed at niche market segments,” Anchor Land chairman Stephen Lee told local reporters at the company’s annual stockholders’ meeting in Makati.

Due to the postponement of its two high-end projects, the company is expecting a “flat” performance this year, but declined to forecast profit, according to the Manila Times.


Source: http://www.property-report.com/high-end-residential-projects-set-to-launch-in-q4-2014-35461