Property sector rising

Anchor Land Holdings, Inc. (ALHI), project developer of posh residential condominium buildings in the Philippines, has expressed optimism over the growth of the real estate industry. The increase in activities in the real estate industry during the last few months is a positive indication after it suffered a slump in previous years due to the Asian economic crisis in 1997.

ALHI president and chief executive officer Steve Li said the real property sector is now on an uptrend. The recovery is both for the high-end and low-end market, with developers gaining good sales in upscale properties. "More people are showing good faith in the real estate industry, keeping in mind not just the need for a house, but a home that will afford their families the comfort and sense of belongingness to a so-called community."

ALHI is the company behind Mandarin Square, a 39-storey luxury condominium building in Binondo, Manila. Li said out of its 285 units, 40 percent have been sold, only three months after the property was started. The units are expected to be turned over to owners in 2009.

"One good indication here, too, is that from all those already sold, these are the ones considered ‘prime’ or ‘choice’ units such as the penthouse. We are greatly benefiting from this industry uptrend, and we are making sure we deliver all units just as promised. This way, real estate world will continue its positive showing," Li added.

Considered Binondo’s newest landmark, the Mandarin Square is a stone’s throw away from Lee Tower, ALHI’s first luxury condo building which opened the concept of opulent living within the Chinese community. Mandarin Square will offer a commercial area ideal for shops, stalls, offices and other professional services.

Mandarin Square will offer 2, 3, 4, and 5 bedroom units ranging from 89-225 square meters that suit one’s needs. There will also be two loft style units each with five bedrooms, which has its own garden adjoining the amenities floor as well as three penthouse units with its own sky garden and landscaped roof deck.

The design features proportions and formal geometric shapes which symbolize the deep attachment of the Chinese community with their culture and traditions. The focal point of the building is the cylindrical curtain glass window in the corner that epitomizes a lighted torch reaching towards the sky. This feature maximizes the marvelous view of Manila Bay and Manila skyline.