Management Team

Chairman's Message

While 2008 will generally be considered a difficult year for most industry players owing to the unravelling of the global financial markets, Anchor Land Holdings, Inc. is proud of the fact that the company not only survived the crisis but, more significantly, posted record growth and profitability that has set new standards in the Philippine real estate sector.

The numbers speak for themselves: ALHI revenues grew almost threefold to P1.36 billion from P487 million in 2007, while net income more than doubled to P236 million from the year ago level of P103 million, sustaining our robust profitability for the second straight year.

The group's consolidated total assets grew by 34% from P2.012 billion in 2007 to P2.717 in 2008, positioning us to further strenghten our core activities in the years to come.

The significant surge in revenues came from the higher number of units sold and higher project completion percentage during the year as the company continues to enjoy steady support from its niche market, while tapping into new segments that are equally lucrative.

On the project development side, we completed our second luxury conduminium, the 39-storey Mayfair Tower, while the third, Mandarin Square, had a completion rate of 52.86 percent by the end of the year. Likewise, we broke ground and began selling our fourth project, the Solemare Parksuites, in December.

"I convey the Board's appreciation to all our shareholders who have consistently placed their confidence on Anchor Land Holdings, Inc. as we pursue our mission to provide high quality condominium iving to a very discerning clientele."

We remain committed to deliver and to meet the loftiest of market expectations, in 2008 and in the years to come.

Stephen Lee
Chairman
Anchorland Holdings