By Arra B. Francia, Senior Reporter

UPSCALE property developer Anchor Land Holdings, Inc. (ALHI) is investing P35 billion until 2021 for the construction of residential, office, and logistics center projects.

The listed company is scheduled to break ground for six projects this year, consisting of two residential buildings, two office developments, and two logistics centers located mainly in Manila and Parañaque.

“For this year until the next three years, we have allocated around P35 billion for our capex (capital expenditure). That is intended for our construction together with the launching of projects,” ALHI Vice Chairman and Chief Executive Officer Steve Li told reporters after the company’s annual shareholders’ meeting in Makati yesterday.

ALHI’s future projects include Opus Manila, a 69-storey residential tower along Benavidez Street, and the 46-storey Cornell Parksuites along Masangkay Street, both in Binondo, Manila. The luxury projects are seen to cater to the Filipino-Chinese community in the area and is part of the company’s goal to revive Manila Chinatown as a prime business district.

“Most of our inventory are being sold out faster than we expect. The economy is getting very promising…Demand is still very strong, so there’s sustainable growth for everyone,” Mr. Li said.

The firm is also building One Financial Center, its first office development in Manila Chinatown. The 39-storey tower hopes to attract third-generation businessmen in the area looking to further expand their business.

ALHI will further develop an office project in Aseana City in the Bay Area.

For its foray into warehousing properties, ALHI is developing Divisoria Logistics Center and Recto Logistics Center, both located in Binondo.

“This development is positioned to cater to the increasing demand for well-equipped logistics facilities for the entrepreneurs in Manila Chinatown, close to Manila’s university belt,” the company said of Recto Logistics Center.

Meanwhile, the company also has plans for resort developments in Coron, Palawan and Boracay, Aklan. Mr. Li said they have already acquired a 3,000-square meter (sq.m.) and 2.6-hectare properties in these locations, respectively.

Mr. Li said they are also ramping up their leasable assets to 273,200 sq.m. by 2021.

“We are trying to achieve a balance of 20% contribution from our recurring income,” Mr. Li said.

The company expects recurring income to reach P1.5 billion by 2020, which is seen to increase to P2 billion by 2022.

Mr. Li said they continue to look for potential land acquisitions in Metro Manila and in Davao, where they currently have one residential project under construction.

“We have another six properties that are under negotiations, so that will be up for acquisition by next year,” the top executive said.

ALHI’s net income attributable to the parent rose by 24% to P128.13 million in the first quarter of 2019 after gross revenues also grew 30% to P1.62 billion.

Shares in ALHI were unchanged at P11 each at the stock exchange on Thursday.

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