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Tuesday, April 15, 2014

Strong sales boost Anchor Land's net income in 2013

Anchor Land Holdings Inc saw profit inch up last year on strong take up of its projects.

In a disclosure to the Philippine Stock Exchange, the niche property developer said its net income rose eight percent to P1.11 billion in 2013 from P1.02 billion in the previous year.

Revenues jumped 38 percent to P5.70 billion from P4.14 billion in 2012 as real estate sales climbed 41 percent to P5.08 billion from P3.60 billion over the same period.

“Anchor Land benefitted from the continuing strength of the Philippine economy and the real estate sector,” the company's chairman Stephen Lee said. “This translated to robust demand for our projects from both local and overseas investors, as well as for our property management services.”

Anchor Land will soon turn over the second phase of Solemare in Aseana Business Park in Paranaque City. It is developing the P11-billion Monarch Parksuites to expand its footprint in the Bay City.

Anchor Land continues to focus on Binondo, Manila – home to its core clients, the Filipino-Chinese business elite—with the development of Oxford Parksuites, Princeview Parksuites, and Anchor Skysuites.

This year, the real estate firm plans to build another residential project in Binondo. It will be located on a historical lot along Masangkay St. on which once stood a house that national hero Jose Rizal frequented and where the original Noli Me Tangere draft was kept hidden.

Outside Manila, Anchor Land has embarked on Clairemont Hills, an exclusive project featuring 23 townhouse units in San Juan. The property developer is also building a 16-storey residential tower in the area.

“With our unparalleled financial strength, fortified by the dedication and foresight of our team, Anchor Land is well equipped to stay on the growth path and build the landmarks of tomorrow, today,” Lee said.

This year, Anchor Land is allocating P5 billion for its capital expenditures, higher than the P4.5 billion spent in 2013, as the property developer launches two residential projects in Manila and two warehouse developments in Binondo and Baclaran.

Anchor Land has 11 ongoing projects in various stages of development.

Source: Interaksyon

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