Anchor Land Holdings Corporation is allotting P21 billion for capital expenditures over the next five years to fund the development of both its existing and future residential projects.
In an interview after the firm’s annual stockholders’ meeting, Anchor Land vice chairman Steve Li said the firm is launching 6 projects, including Anchor Grand Suite, which is the 63 storey residential tower in Binondo; the 43 storey Emerald Grand Suite along Roxas Boulevard; the Emerald Hotel; and a new development along T. Alonzo St. also in Binondo.
“We are also launching 6 projects at the last part of this year. So together with the existing ones we will have 13 working projects,” Li added.
Li said the T. Alonzo project is a mixed-use hotel and residential development with 250 residential condominium units. Emerald Grand suite will have only 51 units because this is low density development with only two units per floor while Anchor Grand Suites is around 400 big cut units.
Anchorland is also putting up a commercial center and office buildings, consisting of a two-tower development, both in the Aseana Business Park. Each tower will be 12-storeys tall.
That five storey commercial center will have a leasable space of around 13,000 square meters of which about three floors have already been reserved by a restaurant firm which will open the country’s biggest seafood restaurant.
“We believe (the Aseana Business Park) is an area which is most promising, especially after the opening of the four casinos which are very near our offices,” Li said noting that “even Ayala is entering the area.”
While they have yet to finalize plans for the office buildings, Li said these will be a combination of office spaces for the business process outsourcing sector as well as small to medium scale enterprises.
“Because we see the market has not being served for the SME requirement. So we are looking at the market now,” he explained.
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