Anchor Land 's Binondo business remains stable

Property developer Anchor Land Holdings Corporation reported that its residential business in Manila Chinatown has remained stable during the pandemic while its leasing properties are recovering as consumers prepare for the Christmas season.

Anchor Land President Elizabeth Ventura said that the company’s strong foundation grounded on its 15 years of significant experience, together with its competitive edge and support from its Binondo stronghold, will help it weather the temporary, short-term effects of the health crisis, now that the economy is picking up pace. 

         “We are grateful for the continuous support of our clients, especially in Manila Chinatown. Despite the ongoing global crisis, Binondo market remains stable,” said Ventura. 

          She noted that, “In fact, we have gradually resumed our construction activities in May when the national government partially eased its strict quarantine protocols. To date, we have continued 90 percent of our construction activities.”

          Ventura added that the company has seen an increase in foot traffic upon the opening of its wholesale centers as the country entered the early Christmas season in preparation for the coming holidays.

          Anchor Land Chief Executive Officer Steve Li said the company has been closely working with its construction partners on recovering delays and coming up with measures to ensure the well-being and safety of their workers. It has also provided necessary assistance to customers with financial burdens. 

He noted that the strong financial performance in 2019 has helped the company cope with the effects of the global health crisis which broke out in the first quarter of 2020.

          “Our healthy balance sheet has helped us absorb the impact of the global health pandemic, allowing us to stay true to our commitment to our clients and shareholders,” said Li. 

According to Li, the company will continue to work on innovative solutions to provide sustainable, future-proof developments.           “Anchor Land has a solid foundation. And just like our people, we are resilient, adaptable, and relentless. Together we will see this through and come out stronger than ever,” added Li.