|Perspective of Tierra Lorenzo in Lipa City.|
TORRE LORENZO Development Corp. (TLDC) , together with the Philippine Hoteliers, Inc. (PHI), announced on Wednesday that it will be developing a P1.9-billion Dusit Thani Hotel at Lubi Plantation in Davao Gulf.
“Our real estate development expertise and Dusit’s mastery of hotel management perfectly complement each other to make for a sustainable partnership,” said Tomas P. Lorenzo , the CEO of TLDC.
The project is located on a 36-hectare development in Davao Gulf, the Dusit Thani Hotel at Lubi Plantation will be a five-star luxury resort offering 54 cottages with two rooms each, for a total of 108 rooms. The company has so far poured in Php 600 million in investments for its development.
The company is banking on the growing convention market to occupy the hotel, which will also have a beach club open for day visitors. TLDC will also develop the area into a marine conservation site. The company looks to finish the project by 2021.
TLDC has previously teamed up with PHI for Dusit Thani Residence Davao and dusitD2 Hotel in Davao back in 2014. The two developments form the P4.5-billion Davao Luxury Lifestyle Complex, which the company has recently topped off and soon will be opening to the public.
“We are aligned with their vision to build for the future, admire their deep understanding of premium living, and their perseverance to compete in a market already saturated with so many options,” PHI President and Vice-Chairman Evelyn R. Singson said in a statement.
“We have inventories of Php 6.2 billion, sufficient to support us in the next 18 months. TLDC continues to be confident in our entire business activities. We see a solid real estate sector for the next five to seven years. Together with that, we are confident that our business plans will be achieved,” Mr. Rapadas said.
source: Business World