Anchor Land eyes P5B from Skysuites project

MANILA, Philippines - Binondo-based upscale property firm Anchor Land Holdings Inc. expects to raise over P4 billion from unit sales in the 56-story Anchor Skysuites, the tallest building in Manila’s Chinatown when completed in December 2014.

Elizabeth Ventura, vice-president for sales and marketing at Anchor Land, said the project, located on a 3,466-square meter property along Ongpin St. in Binondo, is the company’s third in the Chinatown district.

Anchor Land chief finance officer Neil Y. Chua said the firm has earmarked more than P3 billion for the project, coming from internally generated cash and pre-selling activity.

The project will make available two- to five-bedroom units priced at P8 million to P23 million each. Penthouse units with a size of 618 square meters, on the other hand, cost P70 million.

Regular unit sizes range from 118 sqm to 293 sqm. Five bedroom lofts, measuring 241 sqm, are also available.

Anchor Skysuites features a high-ceilinged lobby and reception area equipped with a privileged access card, a mail room, guest lounge, clubhouse which include a mini theater, a kiddie room, two KTV rooms and an Internet cafe.

Other amenities include a 25-meter lap pool, children’s pool, badminton and basketball courts, playground, jogging path and a landscaped garden.

Steve Li, vice-chairman of Anchor Land, said the firm has acquired an additional 18,119-sqm lot in Aseana City fronting Manila Bay. The property will be developed into a mixed-use complex to further expand the company’s best-selling SoleMare Parksuites project.

“We have always been bullish in this area, particularly in Aseana City because we recognize its immense potential and tremendous growth it offers not only to our company but to our clients and investors as well,” he said.

Li said SoleMare’s prime location between the Mall of Asia and the soon to rise Pagcor Entertainment City has attracted huge interest not only from local buyers but from expatriates and overseas Filipinos as well.

He said the expansion was triggered by steady strong demand for sophisticated yet affordable and high quality residential comdominiums in the area.

SoleMare is a mixed-use development featuring residential, commercial, and office units. The first phase consisting of two 18-story towers are now on the final stages while the second phase offering a similar twin 18 story mid-rise towers is also underway.