The value in a student-centric condo
Student-centered projects should have the typical amenities such as swimming pools, student lounges with strong WiFi connection and multipurpose decks or rooms.
Among the residential development trends that the local real estate scene is seeing now are student-centric residential developments.
According to Colliers International Philippines, “more developers are diversifying into niche markets such as student housing and housing for workers” due to the steady demand for these types of housing for students.
For one, Filipino parents, who are living outside the metro or are based overseas, would often send their children to Manila to pursue a college education. Naturally, these parents would either purchase or lease condominium units for their children who are attending university in Metro Manila.
The Philippines also continues to attract foreign students. Koreans, Chinese, Indians and Middle Eastern college students visit the Philippines to study business management, health-related courses, among others.
Colliers thus advises those who are looking for student-centered projects to consider the amenities provided to residents.
“The condo projects should have the typical commercial areas, swimming pools, fitness centers, function rooms, student lounges with strong WiFi connection and multipurpose decks or rooms,” Colliers said.
“Given the proliferation of student-centered residential condo projects, developers must continuously differentiate. Safety and security of the area should be a top priority. The condominium’s proximity to schools should also be a major consideration,” it added.
Colliers further noted that developers and investors need to consider tenant turnovers and unit wear and tear. The ambiance of common areas should also be maintained.
“Developers and investors should also consider tapping the services of property management firms that handle the daily operations of residential buildings including management, supervision, improvement and upkeep of facilities,” it explained.
One property developer that promises to tick all these boxes is Torre Lorenzo Development Corp. (TLDC).
“Time spent by the student traveling to and from school can be spent for the more important things in his or her life, like studying. Investing in a condo affords a student more time study,” said TLDC property management head Erwin Dizon
Dizon continued: “If you have more time to study, you’re able to get things done early. Then you’ll have more time to take care of yourself, your well-being. You’ll have time to go to the gym, to engage in social activities.” For Dizon, these are the investment values which one cannot really put an amount to but should give a student advantage over others.
TLDC, the trusted name in premium university residences, has seen to it that its residents have the convenience of proximity to their respective universities.
From its first university residence, Torre Lorenzo 1, at the corner of Pablo Ocampo Street and Taft Avenue, TLDC’s ever growing portfolio now includes 2Torre Lorenzo and 3Torre Lorenzo, two more high-rises in the area of De La Salle University and DLS-College of Saint Benilde in Manila; Torre Lorenzo Malate, which is near University of the Philippines Manila and St. Paul University Manila as well as medical centers including Philippine General Hospital, Manila Doctors Hospital and Medical Center Manila; and Torre Central near UST.
A sixth premium university residence from TLDC will soon rise in Quezon City, near Ateneo de Manila University.
All of TLDC’s university residences are equipped with study lounges and meeting or discussion rooms. Recreational facilities such as fitness centers, pools and basketball courts, sky decks and visitor lounges are available for residents to use for that holistic study-life balance.
Apart from keeping itself updated with the students’ needs, TLDC also makes it a point to fully understand how it’s like to be a parent with a child who is living away from home.
“TLDC has procedures that safeguards the residents’ privacy. Nobody can just go inside and out of the condo,” Dizon said.
TLDC has likewise equipped its student high-rises with an RFID security system. As soon as a student resident taps his or her RFID access card to enter the condo, parents will receive a text message informing them that their child is safely home.
TLDC’s property management team, according to Dizon, also sees to it that every residential condo is well-maintained, kept clean, secure and that all facilities are up and running.
“When everything is in working order, it is hassle-free for the student. And all a student wants is to go home to a hassle-free environment,” Dizon concluded.
