Property developer Torre Lorenzo Development Corp. expects sales to grow at an average of 35 percent over the next five years amid the reopening of the economy.
TLDC chief financial officer Emmanuel Rapadas sees sales accelerating in the next five years as demand for condominium units are expected to pick up.
“For the past five years, we have achieved an annual revenue growth rate of 25 percent. Given the reopening of the economy and resumption of business activities, we are confident that we can grow the company’s revenue at an average of 35 percent over the next five years,” said Rapadas.
He said the company has put in place a strategy toward business recovery.
TLDC said university residences in 2021 recorded an 8.8-percent increase in gross revenues over the same period in 2020.
But with the opening of offices and schools, the company expects sales to strengthen further on higher demand for condominiums near CBDs and universities.
Rapadas said TLDC remains bullish and focused on achieving its business goals despite the pandemic.