MANILA -- An official of Torre Lorenzo Development Corporation (TLDC) expects a 25 percent revenue growth in the next three to five years, driven mainly by its premium university residences.
In a briefing Wednesday, TLDC Chief Finance Officer Emmanuel A. Rapadas said revenues posted big jumps since 2014 at around PHP600 million to record-high PHP2 billion in 2018.
He said that even as the company has started to build master-planned township projects the premium university residences remain their major revenue driver.
"It will remain as our bread and butter so we’re looking on expanding on that some more through other formats," he said.
To date, these university residences are located in Manila, specifically along Taft Avenue near Vito Cruz and along Espana near the university belt.
Relatively, TLDC President and Chief Executive Officer (CEO) Tomas Lorenzo said they target to construct two more buildings using this concept.
He disclosed that they recently held the ground-breaking for such a project in the Loyola area in Quezon City.
The company also has hotel lifestyle projects in Lipa City, Batangas and in Davao.
Lorenzo said they target to have more projects in areas that are "about to take-off" or those with favorable demographics and demand to take advantage of more opportunities.
He said the domestic real estate industry is "still very strong."
"We always make sure that we stay ahead of everyone," he added. (PNA)
