PRIVATE property developer Torre Lorenzo Development Corp. (TLDC) is investing P4 billion in three luxury developments in Davao–residential condominium, hotel and private membership resort–to take advantage of booming economic growth in the area, the company said in a statement.
TLDC said it has lined up three upscale projects in Davao this year, including the Dusit Thani Residences, the dusitD2 Hotel and the Lubi Plantation Resort.
TLDC President Tomas P. Lorenzo said the three projects will target local and international travellers seeking to take advantage of Davao’s booming tourism industry.
“As the Davao economy picks up, its property sector will strengthen and we will continue to see an upward trajectory. Now is the best time to capitalize on its real estate market given such favorable conditions,” he added.
Dusit Thani Residences will be offering 168 residential units side by side with the 120-room dusitD2 Hotel.
The two will rise within Torre Lorenzo’s first master-planned community, the 1.2-hectare Siam 8000 located in Buhangin District, Davao City.
TLDC president Lorenzo said the Lubi Plantation Resort is a 37-hectare island resort which will offer the premier accommodations and amenities of a private membership club.
Accessible by a 30-minute private speedboat ride, the resort will cater to the recreational needs of a growing affluent market.
“Torre Lorenzo’s first leisure community, Lubi Plantation Resort, will provide that one-of-a-kind adventure and experience,” Lorenzo said.
Lorenzo said TLDC is bullish on Davao because it is one of the fastest growing cities in the country and is considered among the world’s safest cities.
“Our goal is to conceptually start with the three projects, and eventually embark on more development ventures in the long run. We believe that the local audience will be excited for this kind of development in Davao, putting the region in the international tourists’ map and make it their destination of choice,” the TLDC chief said.
Makati-based TLDC is known for its student-targeted university housing projects in various locations across Metro Manila. Its first township venture in Davao is Ciudades, which solidified its reputation in the local property sector.