Anchor Land Holdings’ chairman Charles Stewart Lee is optimistic that the economic slowdown is temporary and that a quick recovery is underway.
This is why Lee has given the green light to at least 12 new projects for the publicly-listed firm, including five projects in and around Chinatown to be launched in 2021.
“These developments range from residential and office developments to logistics centers and hotel and tourism establishments in accordance with the Group’s goal of continuous diversification,” said Lee in his annual report to stockholders.
In Chinatown, Anchor Land will launch this year One Financial Center, One Legacy Grandsuites, Cornell Parksuites and Rosan Logistics. The fifth project, Recto Logistics, will be located in the adjacent Sta. Cruz district across 168 Mall.
“One Legacy Grandsuites and Cornell Parksuites will continue catering to the ever-growing residential
market in Binondo while One Financial Center will be our first office building in the district to meet strong pent-up demand,” said Lee. “Rosan Logistics and Recto Logistics will provide businessmen with increasing storage and logistics facilities as e-commerce continues to grow exponentially in the Philippines especially during the pandemic,” he added.
Lee said Anchor Land has several more projects in the pipeline, such as a high-end residential tower planned for construction along Roxas Boulevard, The Panorama, and three more Chinatown logistic centers – Divisoria Logistics and two unnamed projects to be built on the firm’s properties along Yuchengo Street and Juan Luna Street.
Lee said Anchor Land was waiting for the tourism sector to turn the corner before launching its hotel and resort projects in Boracay and San Vicente and Coron in Palawan.
“The year 2020 may have proven a challenging one, Anchor Land remains unfazed and unshaken in our commitment to continue creating value for our customers and shareholders. We shall remain at the forefront of innovation in the local real estate industry, and continue our leadership in niche
markets where we have built trust, confidence and the reputation for always creating new trends that soon become industry-wide practices,” said Lee.
Anchor Land profits dropped 57 percent to P351.39 million in 2020 but Lee was excited about rental income (which breached the P1 billion mark in 2020) for cushioning the impact of COVID on sales.