Anchor Land to generate P4.5B from Binondo residential project

Real estate developer Anchor Land Holdings Inc. is eyeing to generate some P4.5 billion in revenue from Cornell Parksuites, its ninth residential project.

In a regulatory filing submitted by corporate secretary Christine Base, the company confirmed it seeks to generate P4.5 billion, with its recurring revenue to reach P1.5 billion in 2020.

Located along Masangkay Avenue in Binondo, Manila, the project is a 50-story high-end development which will have seven residential units on each floor.

Each unit will vary from studio-type residences to two- to four-bedroom units.

“Tailored to families looking for a new level of living experience, we offer expansive cuts of premium residences,” Anchor Land CEO Steve Li said.

The development will include a 25-meter lap pool, kiddie pool, changing rooms, deck seating, a lounge area, viewing deck, and a function room.

It stands close to establishments in Binondo such as 168 Shopping Mall and 999 Shopping Mall, and walking distance to Chiang Kai Shek College, St. Stephen’s High School, and Hope Christian High School.

Anchor Land, which primarily caters to the Filipino-Chinese community, counts as projects the Mayfair Tower, Mandarin Square, Solemare Parksuites, Wharton Parksuites, Admiral Baysuites, and Clairemont Hills Parksuites.

The company is now developing the Anchor Land Corporate Center in ASEANA Complex, its first office project to date. —Jon Viktor Cabuenas/VDS, GMA News