MID-SIZED property developer Torre Lorenzo Development Corp. on Monday said it will focus on its three major luxury projects in Davao City, one of the country’s fastest-growing and peaceful cities.
The company president, Tomas Lorenzo, said the firm will invest P4 billion to build its Dusit Thani Residences, Dusit D2 Hotel and Lubi Plantation Resort.
“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 on the international tourists’ map and making it their destination of choice,” Lorenzo said.
Both its Dusit brands will be in the 1.2-hectare development called Siam 800, the company’s first master-planned community project in Buhangin District in Davao City.
The company is not related to the operators of Dusit Thani Hotel Manila in Makati City. The Lubi Resort will be the company’s first leisure community project. The resort is only accessible by a 30-minute private speedboat transfer. It is a 37-hectare island paradise that the company said offers “unparalleled accommodations and amenities of a private-membership club.”
Lorenzo said the reason the company is bullish in Davao is because the city is one of the most progressive in the Philippines and is considered among the world’s safest cities.
“With an array of benefits for different levels of investment, Davao offers the best value in terms of doing business,” Lorenzo said.
“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.”
The Dusit Thani Residences will feature 168 full-service residence units in a complex that offers city and ocean views.
Adjoining the facility will be the 120-key upscale Dusit D2 Hotel with a full suite of accessible facilities and amenities, the company said.
The Makati-based Torre Lorenzo first made a name in the real-estate market through its student-targeted condominium project of the same name near De La Salle University in Manila.
The firm followed its development on its community venture in Davao, Ciudades.