Torre Lorenzo Development Corp. expects to generate up to P3.8 billion in revenues in 2019, up by 90 percent from P2 billion in 2018, company president and chief executive Tomas Lorenzo said Wednesday.
He said with three to four projects in the pipeline, the company would likely sustain a 25-percent growth in revenues in the next three to five years.
“Real estate is still very strong. In this field, competition is fierce but we make sure that we are one step ahead of everyone,” Lorenzo said in a briefing Monday.
“2018 proved to be a milestone year for TLDC. Since last year, we have expanded our portfolio to include more Torre Lorenzo Premium University Residences, Torre Lorenzo Premium Residences, Tierra Lorenzo Premium Lifestyle Developments and TLDC Townships,” he said.
He said Torre Lorenzo would spend P3 billion for two projects this year and another P5 billion in 2020 for the construction of Torre Lorenzo Loyola and another premium university residence at University Belt in Manila.
Anticipating the success of the Torre Lorenzo Loyola project, the company is scouting for the site of a new building in Loyola Heights, Quezon City.
Torre Lorenzo finance officer Noel Rapadas said university residences would remain the bread and butter of the company alongside other major growth drivers like township projects and partnerships with international hotel brands.
The company expanded its premium university residence base with the turnover of Torre Central along España Boulevard.
It is working on the expansion of its university residences with the construction of Torre Lorenzo Malate.
Torre Lorenzo anticipates the opening of its lifestyle developments outside Metro Manila this year.
Tierra Lorenzo Davao soft-opened the dusitD2 Hotel and the Dusit Thani Residence Davao.
It is also awaiting the turnover of its first residential tower in Tierra Lorenzo Lipa, the company’s mixed-used residential development in Batangas.