June 20, 2018, 1:12 pm
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1 Philippine Peso = 0.06897 UAE Dirham
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1 Philippine Peso = 0.01621 Euro
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1 Philippine Peso = 0.87962 Gambian Dalasi
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1 Philippine Peso = 3.88526 Guyana Dollar
1 Philippine Peso = 0.14739 Hong Kong Dollar
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1 Philippine Peso = 20.8492 Korean Won
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1 Philippine Peso = 0.31576 Moldovan Leu
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1 Philippine Peso = 25.69014 Myanmar Kyat
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1 Philippine Peso = 6.66667 Mauritania Ougulya
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1 Philippine Peso = 2.0385 Nepalese Rupee
1 Philippine Peso = 0.0272 New Zealand Dollar
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1 Philippine Peso = 0.01878 Panama Balboa
1 Philippine Peso = 0.06164 Peruvian Nuevo Sol
1 Philippine Peso = 0.06142 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.28545 Pakistani Rupee
1 Philippine Peso = 0.06993 Polish Zloty
1 Philippine Peso = 106.70047 Paraguayan Guarani
1 Philippine Peso = 0.06835 Qatar Rial
1 Philippine Peso = 0.07565 Romanian New Leu
1 Philippine Peso = 1.1966 Russian Rouble
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1 Philippine Peso = 0.07042 Saudi Arabian Riyal
1 Philippine Peso = 0.14841 Solomon Islands Dollar
1 Philippine Peso = 0.25277 Seychelles Rupee
1 Philippine Peso = 0.33719 Sudanese Pound
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1 Philippine Peso = 0.02548 Singapore Dollar
1 Philippine Peso = 0.01426 St Helena Pound
1 Philippine Peso = 0.41701 Slovak Koruna
1 Philippine Peso = 149.29577 Sierra Leone Leone
1 Philippine Peso = 10.57277 Somali Shilling
1 Philippine Peso = 397.4216 Sao Tome Dobra
1 Philippine Peso = 0.16432 El Salvador Colon
1 Philippine Peso = 9.67099 Syrian Pound
1 Philippine Peso = 0.25817 Swaziland Lilageni
1 Philippine Peso = 0.61446 Thai Baht
1 Philippine Peso = 0.04845 Tunisian Dinar
1 Philippine Peso = 0.04326 Tongan paʻanga
1 Philippine Peso = 0.08905 Turkish Lira
1 Philippine Peso = 0.12487 Trinidad Tobago Dollar
1 Philippine Peso = 0.56648 Taiwan Dollar
1 Philippine Peso = 42.59155 Tanzanian Shilling
1 Philippine Peso = 0.49596 Ukraine Hryvnia
1 Philippine Peso = 72.33803 Ugandan Shilling
1 Philippine Peso = 0.01878 United States Dollar
1 Philippine Peso = 0.59211 Uruguayan New Peso
1 Philippine Peso = 147.69953 Uzbekistan Sum
1 Philippine Peso = 1498.59155 Venezuelan Bolivar
1 Philippine Peso = 429.12676 Vietnam Dong
1 Philippine Peso = 2.02911 Vanuatu Vatu
1 Philippine Peso = 0.04869 Samoa Tala
1 Philippine Peso = 10.62592 CFA Franc (BEAC)
1 Philippine Peso = 0.0507 East Caribbean Dollar
1 Philippine Peso = 10.62592 CFA Franc (BCEAO)
1 Philippine Peso = 1.92432 Pacific Franc
1 Philippine Peso = 4.69202 Yemen Riyal
1 Philippine Peso = 0.25823 South African Rand
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1 Philippine Peso = 6.79624 Zimbabwe dollar

Torre Lorenzo diversifies into hotels

Torre Lorenzo Development Corp. (TLDC) ramps up its diversification from residential to hotel development, eyeing fast-growing secondary cities.

TLDC targets to bring up to 40 percent the contribution of its hotel business as well as recurring incomes to the company in five years from 25 percent by 2020, balancing its source of revenues with those coming from condominium sales.

TLDC has partnered with Philippine Hoteliers Inc. to operate its hotels and serviced residences under the Dusit brand.

Tomas Lorenzo, TLDC chief executive officer, said the company will complete in the second half of the year its Dusit Thani Residences, the first Dusit International  residence in Asia-Pacific,  and dusitD2 Hotel, the first five-star luxury complex in Davao.

Project cost for these projects is P4.5 billion.

Hotel amenities will open by yearend while the residences will be turned over in the first quarter of 2019.

In Davao Gulf  will rise TLDC’s Dusit Thani at Lubi Plantation, a five star luxury resort patterned after Dusit Thani Maldives.

Projected to be Asia’s next destination within, the resort is within a P1.9-billion  36-hectare leisure development  has a  marine conservation site and  features a beach club open to day visitors and targeting the growing convention market.

All told, these projects will add 400 rooms.

TLDC also sets Dusit Princess Lipa Hotel, the  first branded hotel in Batangas as well as Tierra Lorenzo, a two-tower condominium within the same complex.

Development of these projects cost P3 billion.

Dusit Princess will have 152 rooms while the condominium component will have  526 units. 

The Dusit Princess Lipa Hotel in Batangas, scheduled for completion in 2021, sits within a mixed-use, urban lifestyle center that also features residential buildings, an international restaurant and a business center.  

These projects complement TLDC’s growing portfolio of real estate developments that anticipate the needs of future communities in emerging urban centers. 

TLDC’s  investments in Batangas and Davao acknowledge the upswing in economic activity in both centers. 

TLDC’s collaboration with the Dusit brand brings to TLDC’s co-created developments the combination of the finest amenities and world-renowned exceptional service that is distinctly Dusit.  

According to Evelyn Singson, president and vice chairman of the Philippine Hoteliers Inc.  Dusit will bring to TLDC’s properties the distinct Asian hotel services that combine Thai’s traditional graciousness and the Filipino’s hospitality.

Singson also acknowledges  the opportunities in emerging cities like Lipa which has the potential to become an exciting tourist destination. 

Noel Rapadas, TLDC chief finance officer, said the company continues to build its university series of premium  residential condominiums with a new Torre Lorenzo, this time  in Loyola Heights, Quezon City near Ateneo de Manila.

To be launched soon, the P2-billion  Torre Lorenzo Loyola is a single-tower 45-level condominium composed of 816 units that range from 21 square meters (sq.m.) to 56 sq.m.

Completion is in 2021.

For turnover in March is Torre Central on Espana, Manila.

The company is currently on the third tower of 3 Torre in Manila. 

Rapadas said the company targets to chalk up P2.4 billion to P2.5 billion reservation sales this year, almost 40 percent higher than the P1.8 billion in 2017.

Rapadas said TLDC currently  has P6.2 billion worth of inventory from its various properties, of which P2.4 billion is  from Torre Lorenzo  Malate; P1.5 billion  from the Dusit Residences  in Davao City; P1.38 billion from 3Torre; P420 million from Tierra Lorenzo in Lipa and P360 million from the remaining 10 percent of  Torre Central. 
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