And it could have just settled for the easier path—developing more of such projects, having already perfected the blueprint for well-appointed residential units proven to be highly conducive for students.
But Torre Lorenzo Development Corp. (TLDC) chose to venture outside its comfort zone, displaying its prowess in another type of project—and outside Metro Manila at that.
TLDC has been expanding its portfolio to include masterplanned townships in emerging urban centers outside the metro. More specifically, TLDC is betting big on Davao City and Lipa City, among other locations.
“(The real estate industry) is still very strong and we still feel it. There are many competitors but we, at TLDC, always make sure we are one step ahead of everyone because we don’t mind looking outside of the usual areas of development. We look for places which are ready to take off,” explained TLDC president and chief executive officer Tomas Lorenzo.
He was quick to add, however, that this was a calculated move, backed with data, strategic planning, and the expertise of the people behind the company.
“Our risks are calculated and we make sure the demographics back it up. What’s important is that the demographics and the market are there. We don’t just go (to a location) hoping someone will discover us,” he added.
Why Davao, Lipa
It’s easy to understand why TLDC is placing its confidence in these emerging urban centers.
Over the last several years, investors have taken a renewed keen interest in Davao Region, particularly Davao City which, due to its strategic location, is regarded as a “regional trade center for Southern Mindanao.”
Beyond agriculture, Davao Region is also home to many flourishing businesses, including outsourcing and offshoring. In fact, Davao City has been named as a center of excellence, given the growth and maturity of the IT-business process management industry in this area.
Meanwhile, Lipa City is located within the Calabarzon Region, which has long been benefiting from improved road networks, ports and bridges, and has seen a steady influx of local and foreign investors setting up shop particularly in the Cavite-Laguna-Batangas industrial corridor over the past several years.
It was also included in the Top 10 “Next Wave Cities” which meant that Lipa City was identified as one of the prime, prospective hubs that can provide alternative locations for outsourcing companies.
Lifestyle developments
While premium university residences will remain the key driver for TLDC, the Tierra Lorenzo premium lifestyle developments in Davao and Lipa are expected to enable the company to grow its revenue exponentially and become a full-scale real estate developer.
TLDC is currently anticipating the grand openings of its lifestyle developments in Tierra Lorenzo Davao namely the dusitD2 Hotel, and Dusit Thani Residence Davao; as well as the turnover of its first residential tower in Tierra Lorenzo Lipa, the company’s mixed-use residential and hotel development in Batangas. Apart from the two residential towers, Tierra Lorenzo Lipa will also house the region’s upscale international hotel, Dusit Princess Lipa.
And it doesn’t end here.
“Indeed, TLDC has done a lot in the last two years as our numbers would (show)… We’re working on our project pipeline and we intend to continue growing rapidly,” Rapadas said.
Indeed, TLDC is out to further cement its position as among the most progressive real estate companies in the country today. Without a doubt, it already is.