Listed upscale property developer Anchor Land Holdings Inc ALHI is targeting to reach a net income of PI billion this year.
As it plans to launch several projects and expansions and grow its leases and rentals on the back of bullish real estate sector of the country.
ALHI chief finance officer Neil Chua said they are targeting a bottom line of P1 billion and plans to double its topline for 2012. Chua said drivers for the growth targets are the real estate sales and the continuing earnings from leases and rentals Its latest recently finished leasing project Two Shopping Center in Pasay City will contribute to the company P200 million or more.
The target income is an increase of 16 percent from 2011 s P842 million while revenues were more than P3 billion ALHI chairman Stephen said the healthy bottomline is attributed mainly to s combination ofhigher revenues and lower costs which came in marginally lower than the year before.
Meanwhile he said capex for this year was set at P4 6 billion for all developments for this year, which includes six new projects, and expansions further developments of other projects and land banking. He noted that 2011 capex was lower than P4 5 billion.
Lee said the company s new projects in 2012 will be a mix of horizontal vertical and commercial developments as part of Anchor Land s continuing efforts to create new markets and expand existing ones particularly its portfolio of commercial projects that should provide more recurring income in the near to medium term. We will continue our focus in Metro Manila where our company has established a strong presence and loyal customer base particularly in the FilipinoChinese community. We aim to take advantage of the goodwill and trust that we have built over the years through quality projects innovative selling approaches and strong customer service that have become our trademark in the industry he added.
ALHI president Elizabeth Ventura said the six new projects mostly expansions of ALHI s bestsellers will all be in Metro Manila taking advantage ofthe continuing strong demand in the real estate sector. The six new developments are Oxford Parksuites located in Chinatown s university belt along Masangkay street Clairemont Hills a cluster of three story townhomes and a medium rise condominium in San Juan City Admiral Baysuites D its second office commercial building along Roxas Boulevard SoIeMare Parksuites Phase in the third ofits four medium rise condominium towers in its mixed use development in the Manila Bay area. One Executive Suites which is the residential component of Two Shopping Center in Pasay City and One Soler another commercial development in Manila with 18 floors with warehousing facilities in the Divisoria area.
Ventura said all new projects are expected to contribute to the company s healthy financial position in 2012 by providing a steady stream of inventories and revenues.
For landbanking Chua said they are always on the lookout for areas within Metro Manila that will prove beneficial to their niche market, which is still predominantly Chinese. Lee noted that they have achieved several milestones in 2011 that further strengthened their industry position as one of the fastest growing in terms of profitability organization and project offerings.