Anchor Land still bullish on Metro residential market
by Catherine Talavera of Manila Times, 06-13-2016
HIGH-END property developer Anchor Land Holdings Inc. remains
bullish on the country's residential market amid strong demand in
its niche areas in the Bay City and Binondo both in Metro
In a recent interview, Anchor Land president Elizabeth Ventura
told The Manila Times that the company is optimis-tic about the
residential market amid the high demand in its strongest
"It's still high in demand, especially in the areas where we
are, there's even less competition," Ventura said.
She said Bay City-the reclamation area located west of Roxas
Boulevard on Manila Bay-and Binondo are their strongest locations
for residential projects given less competition in these areas.
Although their target market consists mostly of Filipino-Chinese
buyers, Anchor Land has different target markets for the two
locations, according to Ventura.
"Here [in Bay City], it's investors. In Binondo, it's the
end-users. Here, we still enjoy good feedback from a number of
customers from Singapore, China, and also local Chinese," Ventura
She said they have less competition in these areas because "we
have a stronghold on the Filipino-Chinese [mar-ket] already."
Anchor Land currently has several ongoing residential projects
in the Binondo area, including the 39-storey Prince-view
Parksuites, the 39-storey Oxford Parksuites and the 63-storey
In Bay City, the company is currently developing its second
residential project in the area named Monarch Park-suites, a
17-storey residential condominium.
Ventura said she still sees "solid" growth in the residential
property sector despite the rather gloomy outlook of analysts.
In a recent interview, KMC Mag Group head of research Antonn
Nordberg gave a slightly less optimistic outlook for the
residential market this year.
"Residential market, I'm seeing signs of a slowdown. There's
still a lot of inventories left. Developers, they need to sell
first before launching new projects," Nordberg said.
A Colliers International report noted that 11,700 units are
expected to be delivered in the major central business district
Ventura noted that the large amount of supply will create an
impact on the developed markets.
"I think it's still solid in terms of growth. There might be
some moderation because of the price, because prices are
increasing, especially in developments that are fully developed,
like for example in the area of BGC [Bonifacio Global City]. When
it's fully developed, your margin for increase is already very
short. Therefore when you begin selling, you already start at a
high price," Ventura said.