Posted July 28, 2023
By: Mindanao Times
L-R: Bobby Horrigan, Tomas Lorenzo, Cathy Casares-Ko, Joey Bondoc
Torre Lorenzo Development Corporation (TLDC), the pioneer of premium university residences in the country, sees a bright future for the residential and hospitality investment markets in the country.
TLDC recently held an Investor's Night at the dusitD2 Grand Ballroom in Davao City where industry experts Joey Bondoc, Colliers Philippines Director of Research, and Bobby Horrigan, CEO and President of Horrigan Hospitality spoke about the promising investment climate in the Philippines' property and hospitality sector.
According to Bondoc, the economy grew by 7.6% in 2022, which marked the fastest pace of economic growth in forty-six years and a great uptick following the early lockdown years, with forecasts predicting a growth of 5.5% to 7% in 2023. Inflation is reportedly on track to decrease, with an interest rate cut being likely, according to the central bank.
A new level of living in Davao City
Armed with an optimistic foresight, TLDC recently launched Crown Residences at Tierra Davao, its first residential development in Davao City. Situated in the same complex as the dusitD2 Hotel and Dusit Thani Residence Davao, Crown Residences is envisioned to bring a new level of living to Davao City with its prestigious location, premium development, and thoughtfully-designed amenities which include 40% open space.
"dusitD2 Davao Hotel and Dusit Thani Residence Davao are anchors of a bigger integrated-use development that we are building here in Tierra Davao," says TLDC CEO Tomas Lorenzo. "We are building 2 more residential towers and an office and commercial complex on this property. We are very bullish on our Davao developments."
Venture into hospitality investment
With movement restrictions being lifted and spending and travel returning to pre-pandemic levels, the hospitality sector such as hotels and residences is experiencing an uptick. According to Bondoc, now is the right time to invest in the hospitality market.
The Suites in Torre Lorenzo Malate, which opened in June 2023, is the latest project in the TLDC portfolio. It is a serviced residence managed by The Ascott Limited.
"More investors are choosing serviced residences over hotels and other types of accommodation because their occupancy rate is more stable, and they attract both leisure and business travelers," explained Horrigan. "When you decide to purchase a unit at The Suites and venture into hospitality investment, you are doing this with the Ascott advantage."
Luxury resort living in Davao City
While The Suites is purely for investment, Torre Lorenzo offers a more flexible opportunity in Dusit Thani Residence Davao.
With Dusit Thani Residence Davao, investors have the choice to enroll their unit in Torre Lorenzo's leaseback program where they can earn a portion from their unit's rental.
They also have the option to use it as their home in the city. With an enviable location, exclusive lobby, premium amenities, and award-winning interior design, Dusit Thani Residence Davao offers a luxury living experience that residents will not be able to experience elsewhere.
"When you invest in TLDC, you are assured that we’re in here for the long haul," said Lorenzo. "We have foresight on what kind of properties will be best for our clients, and most importantly, we take care of our developments. We don't leave our buildings after it is turned over. We maintain it, so that its value will continue to appreciate for our clients."