Anchor Land Holdings
Anchor Land Holdings, Incorporated is the holding company of the Anchor Group primarily engaged in the development of high end condominiums in Manila and marketed to the Chinese-Filipino community. The company is also listed in the Philippine Stock Exchange. As of December 20, 2010, its share price is P11.80.
Anchor Land Holdings was founded by Stephen Lee Keng and Li Yi Chiang and the company was incorporated in 2004. Anchor Land was merged with Anchor Properties Corporation, which was incorporated in 2003. Since both companies were controlled by the same owner, the management then decided in 2006 to merge the two together to consolidate all the real estate projects under just one group with ALHI as the surviving entity.
Under Anchor Land Holdings, Incorporated the company engages in real estate development and marketing focusing initially in high-end residential condominiums within the Manila area. In 2005, prior to the merger, APC acquired 100% equity of Manila Towers Development Corporation which owned the 2,107 square meter property in Binondo, which is the site of the Mandarin Square Condominium. In 2007, the company went public and its shares were listed in the Philippine Stock Exchange under the stock symbol ALHI.
In 2009, the company acquired the historic Admiral Hotel from owners Jose Ma. Lopez and Ma. Victoria Conception. Anchor Land shelled out P360 million for the acquisition. P258.65 million were used to buy the 249,999 shares and P101.35 million were used to pay for the debts. In 2010, Anchor Land has tapped another publicly-listed company, EEI Corporation for the construction of the its most ambitious project, the Anchor Skysuites.
Anchor Land projects are:
- Lee Towers in Binondo, Manila
- Mandarin Square in Binondo Manila
- May Fair Tower in U.N. Avenue cor. Mabini, Manila
- Sole Mare Parksuites in ASEANA Business Park, Paranaque
- Wharton Parksuites, Binondo, Manila
- Clairmont Hills, San Juan
- Admiral Baysuites, Roxas Boulevard, Manila
- Anchor Skysuites, Binondo Manila
Awards and citations
In 2008, Forbes magazine included Anchor Land in the list of 200 Best Companies in Asia with market capitalization of under USD1 billion. Also in that year, the company became part of the Philippines’ 100 largest public companies, ranking 86 on its 2008 net income of P236.31 million. For the first half of 2010, the company placed 29 among the Top 50 local companies in terms of Return on Equity (ROE).
At the end of 2009, total assets of the company amounted to P4.25 billion. Revenues were at P1.63 million and net income totalled P373 million.