Anchor Land to launch P1.5-B bed-space building.
PROPERTY developer Anchor Land Holdings Inc. said it is expanding its recurring income base with the planned launch of the P1.5-billion Cosmo Suites, its first urban bed-spacing project.
The firm added the twin-tower development will offer affordable bed spaces to young employees who are looking for ways to avoid the Metro Manila commute.
'Cosmo Suites aims to help improve the quality of life of employees. It becomes their halfway home near their workplace, allowing them to spend their time on more productive activities instead of being stuck in traffic for around three to four hours,' Anchor Land Chief Executive Officer Steve Li said in a statement.
'We help them achieve work-life balance.'
Anchor Land's entry in the co-living industry will support its target of increasing its recurring income to 20 percent of its overall revenue by 2020. The company also targets to build around 10,000 beds in the next three years.
Located in Pasay City, the development is situated near the Bay City, which is seen as the next hub for the business-process outsourcing industry. Cosmo Suites will cater to increasing demand of BPO employees for quality, yet affordable urban dwelling spaces, the company said.
'We will limit the rental rates equivalent to 25 percent of the average income of BPO employees,' Li added.
The property, which is composed of two 16-story buildings, is set to offer around 3,000 beds with over 800 units. Each unit is composed of at least four beds.
In addition to its round-the-clock security and CCTVs, each tenant will be given a security access key card.
Cosmo Suites includes amenities, such as a 20-meter lap pool, fitness gym, knockdown basketball court, open lounge area, deck seating area, a garden deck and a food hall that offers affordable meals. Tenants are also provided free access to Wi-fi Internet.