Italpinas Development Corporation will launch new “to go to” place this 2nd Quarter of 2016

Certified green builder Italpinas Development Corporation (IDC) has set for the second quarter of this year the launch of its new huge and groundbreaking project – Primavera City – in Cagayan de Oro City.
IDC Chairman and COO Romolo Valentino Nati, an Italian architect, said Phase 1 of Primavera City involves the construction of two towers of integrated multifunctional buildings (commercial, office, residential) project with 11 floors each. Located at the Pueblo de Oro Business Park, Upper Carmen, Cagayan de Oro (near SM City Cagayan de Oro), the project entails an investment of P653 million.
IDC President Jose “Jojo” D. Leviste III said the two towers of Primavera City Phase 1 is designed to have 337 units, 57 of them commercial units; 231 are studio-type; 22 are one-bedroom units, and 27 are two-bedroom units. Their average sizes are 50 to 60 square meters (sqm) for commercial units, 28 sqm for studio-type units, 47 sqm for the single-bedroom units, and 70 sqm for the two-bedroom units.
“Primavera City is a fitting follow-up to our highly successful and multi-awarded Primavera Residences, which caught the fancy of not just Filipino but even foreign buyers and property experts for its modern Italian design infused with eco-friendly architecture,” Nati emphasized.
 
 
Nati said Primavera City is envisioned to be another IDC award-winning sustainable-development project, with its passive green features, such as increased natural ventilation, shaded façade and semi-transparent photo-voltaic panels covering the amenities located on the rooftop, among others. The project has been recognized as highly commended condo by the Climate Technology Initiative Private Financing Advisory Network (CTIPFAN) in Singapore in 2014.
IDC made its mark in the real estate industry as the first Philippine company certified by the International Finance Corp. (IFC) – World Bank Group Excellence in Design for Greater Efficiencies (EDGE) for its flagship project also in Cagayan de Oro City, the Primavera Residences.
The grand launch will be in the second quarter, and start of construction of the Primavera City Phase 1 is third quarter of 2016. IDC targets the completion of the project and the turnover of its units to their owners by the third quarter of 2018.
“We will conduct extensive marketing for our target buyers that include employed and/or self employed individuals with gross family income of at least P50,000 such as local entrepreneurs, SME’s, OFW’s, young professionals and retirees, among others. With Cagayan de Oro City now an emerging tourism and investment destination in the country, Primavera City is a great buy, not just for first-time home owners, but also for investors,” Leviste, a lawyer, stressed.
IFC Global Green Building Specialist Prashant Kapoor, IFC World Bank Legal Advisor and IFC Philippines head of Green Building Program Tess Lacerna, and IFC Country Manager Jane Xu awarded the certificates to Primavera Residences Tower A & B as the “First Completed Condominium Project in East Asia Certified by EDGE.”
EDGE is an innovation of the IFC – World Bank Group. It helps property developers build and brand their properties “green.” It is the highest and most desirable program in the international real estate industry. EDGE is supported by a software that encourages solutions to reduce energy, water and energy consumption by at least 20 percent, which is the standard for EDGE certification.
IDC has notched a series of milestones and achievements. It recently had its successful listing at the Philippine Stock Exchange.

PROJECT WATCH: Italpinas to launch Primavera City in Q2 of 2016

Listed green builder Italpinas Development Corp. hopes to launch its new condominium project in Cagayan de Oro in the second quarter of 2016, a little later than its earlier first-quarter target. In a statement, Italpinas said it is set to launch Primavera City by the second quarter, targeting first-time homebuyers as well as investors. “We will conduct extensive marketing for our target buyers that include employed and/or self employed individuals with gross family income of at least P50,000, such as local entrepreneurs, SME’s, OFW’s, young professionals and retirees, among others, said Italpinas President Jose Leviste III, a lawyer. “With Cagayan de Oro City now an emerging tourism and investment destination in the country, Primavera City is a great buy, not just for first-time home owners, but also for investors.” Primavera City is a seven-building mixed-use condominium development in Cagayan de Oro City, which will offer residential units and a few commercial and office components. Italpinas Chairman and Chief Operating Officer Romolo Valentino Nati said the construction of the building would come in phases. Phase 1 involves the construction of two towers with 11 floors each. “Primavera City is a fitting follow-up to our highly successful and multi-awarded Primavera Residences, which caught the fancy of not just Filipino but even foreign buyers and property experts for its modern Italian design infused with eco-friendly architecture,” Nati said. For its flagship project, Italpinas made a mark in the local real estate industry as the first Philippine company to get a certification of the International Finance Corp.-World Bank Group’s Excellence in Design for Greater Efficiencies (Edge). Leviste said the first two towers would have 337 units, 57 of which are commercial units, 231 studio bedroom units, and 27 two-bedroom units. “Their average sizes are approximately 50 to 60 square meters for commercial units, 28 square meters for studio type units, 47 square meters for the single unit bedroom units, and 70 square meters for the two bedroom units.” the firm’s statement said. Last November, Italpinas Vice President for Banking and Business Development Harold Dacumos pegged the development cost for Phase 1 alone at P670 million. Dacumos said the seventh building of the development would function as a 32-story condotel project that might start construction in 2020. The mixed-use development will also offer a commercial area on the ground floor, two floors of office space in the first building, and another two floors for parking in the second building. It also fosters sustainability, as it features eco-friendly elements, such as the photovoltaic panels that will generate energy for the building’s consumption. Primavera City is located at Pueblo de Oro Business Park, Upper Carmen town, Cagayan de Oro City.   Source: http://www.manilatimes.net/