The public health crisis has put the brakes on the student housing market with many deciding to live at home while learning is remote. But for entrepreneur Alex Bangsoy, the founder and CEO of dormitory developer Vester Corp., the plan is to stay the course and grow fast.

As movement restrictions start to ease, Bangsoy is ramping up his investment in the dormitory space with an eye on high returns in a post-COVID world.

Bangsoy has charted a 12-year growth plan for Vester — to develop dorms strategically and centrally situated in prime locations across the country to cater to students, young professionals in BPOs, workers, and even starter families.

In six years, Vester will be in six locations, namely Dumaguete, Davao, Batangas, Bulacan, Pampanga, and Cabanatuan.

Vester’s ultimate goal is to build 25,000 units of Bayani Hall dormitories in 100 locations all over the country.

Through its Bayanihan Hall dorms, Bangsoy hopes to offer real estate investments that bear recurring income.

Bangsoy saw the pandemic as an opportunity to provide value to ordinary Filipinos by helping them to save up through Vester Real Estate Financial Investments (VREFI).

Under the VREFI, the customers own the unit, Vester manages it for them, the unit earns an income if you have it rented out and it appreciates in value.

“ They won’t go back to zero if they lose their jobs because they have Vester Real Estate Financial Investments that can provide income in a way,’’ Bangsoy said.

To respond to the need for better dorms and co-living spaces outside of Metro Manila, Vester started building Bayani Hall dormitories in Tuguegarao and Dagupan in 2019.

Bangsoy said the market has responded positively to Vester’s investment proposition as sales of the company’s income-generating properties surged by 150 percent during the height of the pandemic in 2020.

This led to the opening of more projects in Urdaneta City and Central Luzon in Metro Clark Angeles.

The pandemic hasn’t stopped Vester from providing quality accommodations. It is building Bayani Hall dormitories in Regions 1 and 2 and in Central Luzon, which will translate to more than 2,000 units of residential and commercial spaces and approximately 8,000-bed capacity.

Bangsoy said the Bayani Hall dorms are fully furnished, air-conditioned, and feature amenities like rooftop swimming pools and state-of-the-art RFID security to ensure the safety of the residents or renters.

“It might be a cliche but we believe that the youth is the future of this nation. Through Vester Bayani Hall, we’d like to provide the next generation of Filipinos—our hope— a better life, through our world-class Bayani Hall dormitories,” Bangsoy said.

Investors can use their Vester Bayani Hall units for personal use or have it rented out for short-term or long-term. “Gamitin mo, ipaupa mo, ipamana mo,” said Vester’s campaign.

Vester is a real estate and development company with a 10-year experience as a dorm operator and 20-year expertise as a property developer.

The post Vester: Entrepreneur Alex Bangsoy ignores COVID, continues dormitory expansion first appeared on Bilyonaryo Business News.



Vester: Entrepreneur Alex Bangsoy ignores COVID, continues dormitory expansion
Source: Filipino Daily Inquirer