For this year, upscale property developer Anchor Land Holdings Inc. is expecting to breach its 2012 record profit as it plans to invest further in its after-sales services.
Anchor Land wrapped 2012 with P1.03-billion net income, which is the first time the listed firm saw its earnings breaching the P1-billion level. The company also saw a 13-percent growth in its net income for the first quarter of 2013.
The company is expecting to surpass the P1.03-billion net income it posted in 2012,” Anchor Land said in a statement on Wednesday.
Anchor Land President Elizabeth Ventura said that in order for the firm to register another record profit this year, the company it jack up its investment in after-sales services.
“This is executed mainly through a network of departments and subsidiaries that work together to ensure that all of our clients’ requirements are met, more so after the turnover of their units,” she added.
The property developer recently formed a leasing and asset management group, which allows homeowners to enroll their units to the pool of properties being leased out by the group to interested tenants, given the strong rental demand for Anchor Land’s residential condominiums.
Anchor Land also has a separate company, Momentum Properties Management Corp., which handles its property management functions.
This wholly owned subsidiary offers services on contracts management, general building administration, lease management, estate management, parking, security and safety management, among other functions.
Anchor Land’s current projects include Admiral Baysuites, a luxury boutique hotel and residential development rising in Roxas Boulevard, and the P11-billion development
Monarch Parksuites located at the Asean Business Park in Parañaque City.
For this year, the company has earmarked a P5-billion capex, which is 11 percent higher than the P4.5 billion it has spent in 2012.
This, according to Anchor Land, will be used mainly to develop follow-up projects of its existing developments.