Anchor Land on ‘Forbes’ magazine’s list of best firms in Asia

Properties

Wednesday, 15 October 2008 18:20

LISTED property developer Anchor Land Holdings Inc. made it to this year’s 200 Best Under a Billion list of the prestigious Forbes Asia magazine, an annual compilation of the best companies in the Asia-Pacific with under $1 billion in sales, underscoring the company’s solid reputation for innovation and groundbreaking projects. Anchor Land is one of only two Philippine companies on the exclusive list, which appeared in Forbes Asia’s September 29, 2008, issue. The 200 winners were culled from over 24,000 publicly listed outfits from 15 countries, including Australia, New Zealand, Japan, China, India and Hong Kong. Anchor Land chairman Stephen Lee said making it to the annual list is a tremendous vote of confidence for the company and brings enormous pride to the Philippines as well. “It is not every day that a respected business magazine like Forbes Asia comes up with such accolade. We are truly humbled, and at the same time greatly challenged by the tremendous pressure that comes with such recognition,” he said. The magazine also included a short description of Anchor Land, one of the select few in the list given such distinction. It said, “The developer’s condominium towers dominate the Manila skyline. Current projects include the Mandarin Square Mayfair Tower. What’s next? Plans for Manila’s tallest building, at 50 stories.” Forbes Asia described in a lead article how the current turmoil in the world markets has made it tough for small and midsize enterprises, or those publicly listed companies with sales under $1 billion. Just more than a quarter of the companies in last year’s list made it to the “200 Best Under a Billion” for 2008. “Despite diminished returns, companies on this year’s list negotiated the pitfalls of early 2008 to increase sales and profits,” the magazine said, noting that fears of a US recession “rattled the gilded economies of Asian markets over the past year and disrupted steady growth for many of the region’s best-known companies.” Anchor Land, which had a successful initial public offering at the Philippine Stock Exchange in 2007, has established a firm niche in the affluent Chinese and expatriate communities with its distinct high-rise condominiums. Its first project, the 33-story Lee Tower in Binondo, Manila, was sold in record time, as well as its next developments, the 33-story Mayfair Tower on UN Avenue and the Mandarin Square, a 39-floor high rise on Ongpin Street in the heart of Chinatown. The company is set to launch this month its Sole Mare Park Suites, an 18-story residential twin tower at the Aseana Business Park on D. Macapagal Boulevard in Parañaque.