Anchor Land to invest P4 B for Parañaque development

MANILA, Philippines — High-end property developer Anchor Land will invest P4 billion for the development of a one-hectare property in Parañaque City.

The public-private partnership project would consist of office and commercial spaces as well as a facility for bed space.

In particular, the project would have three towers, with the first tower to house the satellite offices of the city government of Parañaque.

The satellite offices will include the extension offices of the city’s business permit and licensing office (BPLO) as well as the assessor’s office which is responsible for processing permits for both local and foreign investors.

The second tower will be for office and commercial use, while the third tower would be a dorm-type or bed-space facility.

Anchor Land project director Aaron Tumao said the project is an important milestone for the company.

“It gives us the opportunity to support Parañaque City in bringing its services closer to its people.”

The mixed use development will rise between the Parañaque Integrated Terminal Exchange and Coastal Mall and close to the NAIAx exit ramp to Entertainment City.

Parañaque City Mayor Edwin Olivarez welcomed the project.

“This project and our satellite office will bring the city government’s services closer to our citizens and all sectors, especially our business partners,” he said.

The mayor also urged other companies to invest in Parañaque.

“Through this project, we are encouraging the private sector to invest in our city, in the Manila Bay area. We are making it very convenient for them to establish their businesses,” Olivarez said.

Furthermore, Olivarez said that with the satellite offices, the project would make it easier for businesses to apply for their respective requirements instead of transacting in the main city hall in Sucat district.

Employees of establishments in Bay City, in particular, will be able to conveniently secure their government-related employment requirements since the satellite office will also include extension offices of the National Bureau of Investigation, Government Service Insurance System, Social Security System, Pag-IBIG and the Philippine Health Insurance Corp. The third tower will provide bed spaces to around 3,500 employees of Bay City and nearby establishments.

“Anchor Land has always aimed at providing better living solutions. And our project with Parañaque City government will help promote work-life balance for those working in Bay City. Instead of traveling for an hour or two to get home, employees can spend their time in more productive activities,” said Tumao.

Anchor Land is a major developer of luxury residential properties in Bay City.

It also has a portfolio of commercial properties which include Baylife Venue, a luxury retail property which houses East Ocean Palace – the biggest seafood restaurant in the country; and the upcoming two-tower, 12-story Anchor Land Corporate Office.