That Torre Lorenzo Development Corp. (TLDC) has completed its projects even in the midst of the pandemic is admirable enough as it is. But that it has remained bullish of its prospects, setting up a strong pipeline of future-ready developments with plans to invest P20 billion over the next five years is indeed beyond impressive.
These plans were bared by TLDC officials on Thursday following a tour of Torre Lorenzo Malate’s (TLM) Sky Lounge, which treated guests to a first-hand experience of its university residence component. When the group finally settled down at a nicely decorated venue on the topmost floor of the 45-story building, we had already gotten a clear idea of what the mixed-use developer could deliver.
“We had our midyear roundtable in February 2020, right before the pandemic,” said TLDC CEO Tomas Lorenzo. “I decided to have (the briefing) here because I want everyone to see what we’ve done during the pandemic.”
He explained: “This was not finished. In fact, many projects were not finished. I’m happy to say that, pandemic withstanding, we finished [them]. That’s a sign of how dedicated we are in completing [them].”
Aside from TLM, TLDC also finished during the pandemic the Dusit Thani Residences in Davao and 3Torre Lorenzo in Manila. It topped off Torre Lorenzo Loyola and launched Torre Lorenzo Lipa Tower 2.
TLM, which had its turnover only last June, embraces the heritage of TLDC as a pioneer in premium student residences built near schools. It is neighbors with St. Paul University Manila and University of the Philippines Manila, among others.
Evident during the tour was TLDC’s Student First Program. Like all TLDC student residences, this one enjoys 24/7 security and an RFID system. There are provisions for fiber internet plus a study lounge and a meeting room on the amenity deck. Also sharing the floor are the fitness center and swimming pool. If students wish to entertain friends, they can take them to the discussion room on the ground floor. Not only are the schools near, but so are a mall, hospitals and various hangouts.
The program has proven applicable beyond student life, as the property also attracts entrepreneurs, professionals and families.
TLM further reflects the company’s diversification. The tour provided the media with an exclusive sneak peek of the offerings at its serviced residence–The Suites at TLM–and its co-living space–Lyf Malate Manila–both managed by The Ascott Limited. The Suites are up for sale to investors. That foretaste got the media excited about the future of TLDC.
“We are very bullish about the market,” said TLDC COO Cathy C. Ko. “We have grown already for this year 4.7 times versus how we performed in 2021 [in reservation sales] and we will continue to grow… We’re projecting to grow revenues by 170 percent by the end of 2022.”
TLDC will take on follow-up and expansion projects. In the high-end Dusit Thani Lubi Plantation Resort, TLDC is set to add more villas, among other facilities. Tierra Davao will add residential towers plus office and commercial spaces. Dusit Thani Princess will complete Tierra Lipa.
The company ensures that its developments are, as its tagline goes, “designed for tomorrow.” That happens because “our eyes and ears are always on the ground,” added Co.
Even the theme and composition of TLM manifest that value. The “old Manila mansion” theme comes from the fact that Malate was once the stomping grounds of Manila’s elite. The Suites and Lyf came into the plan, on the other hand, because Lorenzo observed that, pre-pandemic, the area teemed with foreigners who really wanted to stay within Malate.
If the need changes, TLDC will make tweaks or additions to TLM and its other properties, said Lorenzo. “One way to describe it is being hands-on and really living it and understanding and spending time… We’re not here to sell everything and walk away. We actually stay.”
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The article was originally published in Inquirer.NET and written by Vaughn Alviar.
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