Real estate firm bullish on Davao - SunStar

Real estate firm bullish on Davao

By Reuel John F. Lumawag

TORRE Lorenzo Development Corporation (TLDC) remains bullish on Davao as it is planning to expand its real estate portfolio in the region.

“We are very bullish on Davao City, we are very bullish on tourism because throughout the pandemic we were still operating the resort and hotel,” TLDC CEO Tomas P. Lorenzo said in an interview with SunStar Davao.

At present, TLDC’s properties in Davao Region includes the Ciudades Business Park in Mandug, Davao City; the dusitD2 Davao and Dusit Thani Residence Davao in Lanang, Davao City; and the Dusit Thani Lubi Plantation Resort in Pindasan, Davao de Oro.

Lorenzo said the company is looking to establish another condominium, this time under the TLDC brand, at the back of the duistD2 Davao and Dusit Thani Residences. They are also planning to develop the front of the hotel property into a business center.

He added that the addition of another condominium and business center will make the hotel property into a “full mixed-used mini-township.”

Lorenzo said they are also looking into further developing Ciudades, TLDC’s 200-hectare master-planned community project, by adding additional commercial projects.

Following the easing of restrictions, Lorenzo said they are also looking into expanding the Dusit Thani Lubi Plantation Resort.

He said amid the pandemic, they noted how well the resort was performing as people opted to travel domestically rather than internationally.

“We are expanding our resort… to add more rooms, more cluster villas because the demand is so high, especially for weddings events. We have so many staycationers, business travelers, and tourists from other parts of the Philippines,” Lorenzo said.

Aside from Davao City, the company is also eyeing several areas in Mindanao where it can invest in.

“There are other cities we are looking at but they are not necessarily what people are looking at. We [look at] the market, if there is a demand for this (real estate project), we’ll put it. If a place needs a hotel, we put a hotel,” Lorenzo said.

He added they are currently looking at several cities in Mindanao for a high-rise building project. However, he said they cannot yet reveal these areas.

“It took a long time to make the Manila people realize that Mindanao is the place where people spend and where there is actually a demand for high-end accommodations and residential units,” he said.

Meanwhile, Lorenzo said their other projects in Luzon are also on track with some about to be completed.

The first tower of Tierra Lorenzo in Lipa, Batangas has recently been completed. The second tower is about to start with it being targeted to be completed in 2025. The company will also be bringing the Dusit brand to Lipa with the establishment of Dusit Princess Lipa, which will be within the same property as Tierra Lorenzo.
The company is also set to turnover some units of the 36-storey 3Torre Lorenzo and the 45-storey Torre Lorenzo Malate in Malate, Manila.

For Torre Lorenzo Malate, TLDC has partnered with Ascott Limited for the management of TLM’s serviced residences — The Suites and lyf. The condominium project also features The Residences, which “features TLDC’s signature brand of premium residential condominiums.”

TLDC’s Torre Lorenzo Loyola in Loyola Heights in Quezon City is also targeted to be completed by 2022.

Lorenzo said under their five-year growth plan, they are looking into establishing 30 projects across the country, some of which will be in Mindanao. RJL

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