MANILA, JUNE 4, 2011 (MALAYA) BY RUELLE ALBER D. CASTRO - Listed property developer Anchor Land Holdings Inc. expects to generate about P4 billion in sales for its latest project, a 56-story landmark development in Manila’s Binondo area.

Anchor Land’s Skysuites, the tallest building in historic Chinatown, will offer 346 residential units for principally Chinese-Filipino families.

Elizabeth Ventura, Anchor Land vice president for sales and marketing, said the project was targeted at high-end and starting families as well as those looking to upgrade their dwellings, with the Chinese custom of having a spacious living area for the family in mind.

The project sits on a 3,460 sq.m. property on Ongpin street. This is Anchor Land’s third project to be launched in Binondo.

Skysuites offers two- to five-bedroom units at an average price of P70,000 per square meter or P8.5 million for a two-bedroom and as much as P75 million for a five-bedroom unit.

Skysuites is also the first residential project to get a certification from the US Green Building Council’s Leadership in Energy and Environmental Design (LEED) as a green building project.

Sale of the project started in December, with 50 percent of all units already sold, according to Ventura.

Skysuites is eyed for turnover by 2014.

Anchor Land also said it has acquired a new property adjacent to its Solemare Parksuites project in Parañaque City, which will host Phase 3 of the project.

The nearly two-hectare property is in Aseana City, right beside the Mall of Asia complex.

"We have always been bullish in this area, particularly in Aseana City, because we recognize its immense potential and the tremendous growth it offers not only to our company but to our clients and investors as well," said Anchor Land vice chairman Steve Li.

"The strategic acquisition will allow us to further expand out bestselling SoleMare Parksuites project and in the process fast-track the development of the business park into a bustling tourism, leisure and entertainment hub that we envision as the New Vegas in the Asia-Pacific region," he added.

Chief News Editor: Sol Jose Vanzi

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