By Beatriz Marie D. Cruz, Reporter
LIVINGSPRINGS Communities Realty and Development Corp. (LCRDC), a premium boutique developer, is focusing on more wellness-themed residential projects outside the Philippine capital as more Filipinos seek nature-inspired and sustainability-led developments beyond the metro.
“We are definitely hoping to increase our revenue moving into house and lots. We’re looking forward to 300% growth,” Monica Therese “Monique” C. Albert Lopez, co-founder and managing director at LCRDC, said in an interview with BusinessWorld.
She said the company is optimistic about achieving quadruple growth in revenues, driven by rising demand for horizontal residential properties, higher foreign remittances, and stronger take-up during the holiday season.
“Especially during the pandemic, people realized how important wellness and a sound mind is, as opposed to living in a concrete box,” Ms. Lopez said.
Outside the Philippine capital, the average take-up rate of house-and-lot (H&L) units ranged from 86% to 98% as of the end of the second quarter, according to property consultancy firm Colliers Philippines.
The shift from vertical to horizontal developments is driven by growing demand for more open spaces and residential properties with sustainability features, Colliers also said.
It also cited improved road networks connecting to Metro Manila and sustained price appreciation in H&L properties.
Founded in 2007, LCRDC initially focused on launching vertical residential projects. It entered the residential property sector in 2010 with the launch of Tres Palmas, its eight-storey Mediterranean-themed tower in Taguig City. This was followed by 10 Acacia Place, a low-density condominium tower in Quezon City launched in 2019.
To date, both properties maintain an occupancy rate of over 90%, Ms. Lopez said.
Last month, the developer officially expanded its portfolio into mixed-use and horizontal developments with the launch of its 5.8-hectare Cypress Place Woodland Community in Silang, Cavite.
Cypress Place is also the company’s first project outside Metro Manila — a strategic decision following the unsold inventory of condominium units in some parts of the region.
“It was in the middle of the pandemic, when we had the best sales in 2021, and when news hit that there’s going to be a condo oversupply, there was really a slowdown,” Ms. Lopez said.
“[When the] POGOs (Philippine offshore gaming operators) left, all of a sudden, there was so much available units in Metro Manila… so we will be focusing on projects outside Metro Manila, and we are choosing areas that do not have an oversupply,” she added.
Ms. Lopez, an architect by profession, said wellness and peace of mind are recurring themes across LCRDC’s properties, supported by its “green architecture” and eco-forward spaces.
Cypress Place will have thermal-insulated walls to reduce heat in its rooms, while its autoclaved aerated concrete (AAC) blocks will help reduce noise transmission, Ms. Lopez said.
Its residential units are designed with cross ventilation to allow better airflow and will incorporate smart technologies such as LED and solar lighting and dual-flush toilets.
For its wellness and relaxation-themed amenities, 10 Acacia Place and Tres Palmas feature landscaped gardens, a swimming pool, and meditation and lounge areas.
Likewise, the upcoming Cypress Place integrates modern cabin living with landscaped green zones, tree-lined roads, pet-friendly areas, picnic spots, a clubhouse with coworking spaces, home gardening areas, and meditation pods.
Cypress Place will be developed in six phases. The company plans to build over 300 houses across its first four phases, while the remaining two phases will be dedicated to commercial and residential buildings.
“We plan [to develop] the phases ideally every year. So, around 70 to 80 houses [will be launched per] year,” Ms. Lopez said, adding that the first set of houses is scheduled for turnover by 2027.
“Although, we are dependent on house take-up. The faster we sell, the faster we will launch the next phase,” she added.
Ms. Lopez said her dream of becoming an architect was sparked by seeing Makati’s skyscrapers as a teenager.
“At age 14, I remember I was in Makati and I was looking out at this building, I think it was the Stock Exchange, and then I wondered, how do they make a building like that?” she said.
Ms. Lopez obtained her architecture degree from the University of Santo Tomas. She is also the principal architect of M.CAL Architecture & Design, which worked on Tres Palmas and 10 Acacia Place.
This October, LCRDC marked its 15th year since entering the local property market. In the long term, the developer is eyeing expansion into other regions.
“Our first couple of projects, and maybe I’d say the first five projects, need to be at least in Metro Manila, Mega Manila, Greater Manila. Maybe after that, we can venture into provinces already,” Ms. Lopez said.