Anchor Land profit rises 11% in 20

MANILA, Philippines — Anchor Land posted a net income of P620.05 million last year, up 11 percent from the year before.

Steve Li, chief executive officer of Anchor Land, said the company continues to enjoy strong demand from its niche markets.

“We continued to enhance our competitive lead in our core niche markets with our luxury developments which secured a steady source of income for the company last year,” Li said.

Anchor Land generated P6.01 billion in revenue last year, 25 percent higher than the previous year.

Bulk of the revenue came from real estate sales which rose 27 percent to P5.38 billion.

Major contributors include sales from Monarch Parksuites in Bay City and three properties in Binondo: Anchor Grandsuites, Princeview Parksuites and Oxford Parksuites.

Recurring income was the second highest source of revenue, accounting for P366.06 million or an increase of 26 percent year on year.

Rental income came from Anchor Land’s projects such as warehouse leasing from One Logistics in Baclaran and One Soler in Binondo, and its shopping center projects,One Shopping Center and Two Shopping Center in Baclaran.

The company also has commercial units in various residential properties like Admiral Baysuites, Solemare Parksuites, Anchor Skysuites, Wharton Parksuites and Mandarin Square.

Anchor Land aims to increase its rental income to 20 percent of its overall revenue by 2020.

It will soon open its high-end Bay Life Venue, which will house the biggest seafood restaurant in the country, and the Anchor Land Corporate Center.

In Pasay, Cosmo Suites will offer 3,000 bedspaces for employees. Another warehousing facility, Juan Luna Logistics, will soon be constructed in Binondo.

Anchor Land also expanded its portfolio with its entry into the hotels and resorts industry.  It has projects in Coron and Boracay.

It is also building a high-end residential condominium in Davao City, targeting end users and investors.