Premium spaces for the academe
Foresight played a huge part in getting this real estate developer to where it is now.
“After seeing the available university housing close to 20 years ago, I saw an opportunity to revolutionize the university students’ quality of living in the country,” shared Tomas P. Lorenzo, Chief Executive Officer of Torre Lorenzo Development Corporation (TLDC).
Together with his management team, they considered the students’ physical, social and emotional needs, anticipated what they would need 10 years forward and integrated those into TLDC’s design for its first project, Torre Lorenzo 1. Lorenzo and his team discovered that for university students, studying goes beyond the walls of the classroom. It becomes a social activity that occurs in many places.
“Students who live in our university residences come home to furnished, secure living spaces within walking distance of the big universities outfitted with modern kitchens and private bathrooms,” explained Lorenzo.
It didn’t end there. The trusted name in premium university residences went the extra mile and gave thoughtful attention to other details that are conducive to studying: WiFi-enabled study lounges, meeting and collaboration spaces that co-exist with and complement living and social areas. Cafes and restaurants on the ground floor and lounge areas in the library all support the social nature of learning.
Given the number of players in the real estate industry, TLDC made sure to focus on this specialized market—college students and their parents. “With so many seasoned and aggressive players in the industry, we had to understand what our unique selling proposition was: that we are a young and progressive property developer that seeks to ‘elevate lifestyle solutions today for tomorrow’s communities,’” said Lorenzo.
“It is clear to us that we are going after a niche segment. We are building premium student residences for college students and their parents looking for the best and most secure living spaces that encourage learning; we are building residential and mixed-use developments for the emerging middle class in key urban cities outside Metro Manila. Our target are people who expect more from their developers, who have lived abroad and expect the same quality and approach to function as developments in other countries.”
With this in mind, Lorenzo put together a lean but aggressive team composed of seasoned professionals: a CFO experienced in real estate, a COO that has a background in finance, both supported by a management committee of seasoned veterans from the real estate and related industries who all subscribe to the company’s mission of elevating the lifestyles of their customers.
To date, TLDC has three residential developments in the vicinity of De La Salle University and DLS-College of Saint Benilde in Manila: Torre Lorenzo 1, 2Torre Lorenzo and 3Torre Lorenzo; Torre Lorenzo Malate on Malvar Street, adjacent to the University of the Philippines College of Medicine and St. Paul University Manila as well as to medical centers Philippine General Hospital, Manila Doctors Hospital and Medical Center Manila; Torre Central, fronting the University of Santo Tomas in Espana; and another premium university residence soon to rise on Katipunan close to Ateneo de Manila University and Miriam College. By the end of the first quarter of 2018, TLDC has pipelined their sixth premium university residence.
In addition to its premium university residences and Tierra Lorenzo residences in key cities outside Metro Manila, TLDC also has its leisure and commercial developments in Davao and Batangas, an acknowledgment of the upswing in economic activity in both provinces.
Completion is underway for Dusit Thani Residence Davao and dusitD2 Hotel Davao, two projects that are in collaboration with Thai hospitality group, Dusit International. Lubi Plantation, a P1.9-billion island resort community in the Davao Gulf, is currenty on Phase 2. It will also house the five-star Dusit Thani Hotel.
Ciudades, Torre Lorenzo’s commercial development also in Davao, is a whopping 200-ha master-planned township. It will house a business park, a BPO campus, a world-class football stadium and training center and retail spaces, to name a few.
In Lipa City, Tierra Lorenzo Lipa, a multi-complex property, is set to rise. TLDC’s urban lifestyle center in Batangas will have two residential buildings and one hotel, the P2.4-billion Dusit Princess Lipa Hotel.
TLDC takes pride in being able to respond quickly to market changes and demands since they are relatively young in the industry. They are also able to build strong, solid and long-lasting relationships within the communities they serve because they are more physically present in all their developments. “This feeds into our natural intuition for what is needed to better enhance the lives of our residents and guests,” shared Lorenzo.
TLDC continues to evolve and adapt with the times, their vision of upgrading the living experiences of their clients remains the same. Lorenzo assured that it is even stronger now than ever before.
Clearly filling an identified need within an industry that is so large and competitive, TLDC has only just begun. Lorenzo acknowledges that they are already feeling the rewards. “We’re proud to say we have grown our revenues by more than 200 percent in the past three years. All our projects are well underway and, together with our investors, we are excited at the many opportunities these will bring in the areas where they will operate.”
For its leisure developments, TLDC has partnered with Thai hospitality group, Dusit International. “To be chosen to be an international hospitality chain’s partner in the Philippines is a show of confidence in our capability,” said TLDC’s chief executive officer.
No one is left behind at Torre Lorenzo, as the premium property developer also provides jobs for thousands for each of their projects. “We contribute to employment. Each of our projects employs between 500 and 1000 people from construction to crew fit-out to preparing our properties for sale and occupancy,” disclosed Lorenzo.
From student-targeted high rises to mixed-use developments and master-planned communities, TLDC has always remained true to its vision of “elevating lifestyle solutions today for tomorrow’s communities.” Lorenzo explained, “We continue to listen to our homeowners and our investors to ensure that our offerings raise their lifestyles and respond to their needs. Some are on the lookout for safe and secure spaces to live in; others are looking for investment vehicles to add to their portfolios that can bring in recurring income. Our properties offer both. I’ve always said that this a most exciting time to be in this business. We have much more to do on the journey to our vision.”
