07/12/2018
Published June 30, 2018, 10:00 PM
By James A. Loyola
Listed property developer Anchor Land Holdings, Inc. is allotting P9 billion for capital expenditures this year as it continues to expand its recurring income portfolio in addition to its core residential business.
In an interview after the firm’s annual stockholders’ meeting Anchorland Chief Executive Officer Steve Li said they are planning to expand out of Metro Manila and into the provinces.
Li said Anchor Land’s first provincial project, a two-tower residential development in Davao City this year.
“The residential market is still very strong. But you must come with the right product. There is a demand for the luxury market and that is what we continue to be doing,” said Li.
He said 202 Peak Lane will be “our first venture into the provincial development. And we try to bring in the high-end concept to the provincial project.”
The project, 202 Peak Lane, will bring to Davao “the company’s expertise and track record in luxury condominium development that offers rental income potentials that will surely attract both end-users and investors,” said Li.
Located near Ateneo de Davao University, Li said Anchor Land will be tapping into “another underserved market where demand for accommodation has spiraled in recent years.”
Set for construction by the third quarter of this year, 202 Peak Lane offers standard amenities, fully-furnished units – the first of its kind in Davao, according to Li.
“The units are also flexible to suit the needs of clients either for a one-bedroom or hotel setup or for condo-sharing ideal for those who seek practical homes,” he said.
This will be among a number of projects the company has lined-up to diversify its product line, which are mostly concentrated in Binondo and the Bay area in Manila.
