Primavera City – The Next Groundbreaking Project for IDC

Italpinas Development Corporation (IDC) made headlines when they unveiled one of the most self-sufficient, eco-friendly mixed-use condominiums ever to grace the skylines in any of the Philippine cities, the Primavera Residences in Cagayan de Oro. Before this twin tower project was even completed, it already received numerous recognitions and awards from a variety of institutions and international award-giving bodies, including the Southeast Asia Property Awards (SEAPA) in Singapore and the International Property Awards in Kuala Lumpur.

Primavera Residences has also received a certificate of recognition as a finalist and one of the “Most Promising Clean Energy Investment Opportunities” during the Climate Technology Initiative Private Financing Advisory Network (CTI PFAN) in a Philippine Clean Energy Investment Forum in Manila. With its completion, Primavera Residences, aka the “Twin Towers,” proves to the international community that human ingenuity and perseverance can really make any dream a reality, including creating a state-of-the-art, energy-efficient commercial and residential building.

Italpinas’ Newest Project: Primavera City

Primavera City

Next on the docket for Italpinas Development Corp. is Primavera City. Still located in uptown CDO, at the Pueblo de Oro Business Park, where Primavera Residences is situated, Primavera City is a master-planned condominium project that is surely going to further the cause of IDC in promoting affordable, eco-friendly living. This is the latest project for Italpinas in Cagayan de Oro; a self-sustainable, mixed-use condominium development that has already received praise and recognition from the Climate Technology Initiative Private Financing Advisory Network (CTI PFAN). The CTI PFAN’s funding partners include the Asian Development Bank (ADB) and the US Agency for International Development (USAID).

Just like the previous project, Primavera City was recognized as one of the top 10 “most promising clean energy investment opportunities” in 2013, during a competition held in Singapore. Interestingly, this real estate project is the only design consisting of seven mixed-use commercial and residential developments that boasts of both passive and active green features, using huge PV solar panel arrays for each of the building’s rooftops, essentially topping over 100 other eco-friendly projects in all of Asia. We can expect the development project to be constructed in four different phases.

According to the Italpinas Development Corp. website, the grand launch of these mixed-use energy-efficient buildings is set in the second quarter of this year, with the construction of Phase 1 or the first two mid-rise buildings set to commence in the third quarter. While the remaining structures, including the high-rise, will follow later. The project will receive its funding through the initial public offering, or IPO, set by IDC and its partners.

In a recent interview, IDC Chairman and COO Romolo Valentino Nati, an Italian architect, stated that the first phase of the development project will consist of the construction of the first two buildings with a total of 11 floors each. These buildings will be integrated multifunctional structures that will house commercial, residential, and office spaces. The project requires an investment estimated at around PHP 653 million.

Architect Nati, who also played a major role in the design of IDC’s previous Primavera Residences project, further stated that, “Primavera City is a fitting follow-up to our highly successful and multi-awarded Primavera Residences, which caught the fancy of not just Filipinos but even foreign buyers and property experts for its modern Italian design infused with eco-friendly architecture.” Indeed, this latest project is the next big step, not just for the real estate development company, but for the real estate industry as well.

Structural and Condominium Features

According to Italpinas Development Corp. the projected completion of the Primavera City project and the turnover of its units to their owners will be around the third quarter of 2018, if all goes well. IDC President Jose D. Leviste III confirmed in an interview that the first two towers of Primavera City Phase 1 are designed to house a total of 337 units. Of the 337 units, 57 will be commercial units, 22 are one-bedroom residential units, 27 are two-bedroom units, and 231 are studio-type residences. The average sizes of the units are 50 to 60 square meters for the commercial spaces, 47 for the one-bedroom, 70 sqm for the two-bedroom, and around 28 square meters for the studio type units.

According to Leviste, a lawyer and a graduate of the University of New South Whales in Australia, their target buyers include “employed and/or self-employed individuals with gross family income of at least PHP 50,000 such as local entrepreneurs, SMEs, OFWs, young professionals, and retirees, among others.” He further emphasized that, “With Cagayan de Oro now an emerging tourism and investment destination in the country, Primavera City is a great buy, not just for first-time home buyers, but also for investors.”

Source: http://www.celebratecdo.com/

Zoom in: Condo living in Uptown CDO

One Sunday, me and my friend had nothing to do. Boredom was really killing us so we decided to take a joyride. And because we’re tired of the usual sites of Limketkai and Ayala, we entertained the thought of going to SM City, a mall in CDO that I rarely visit. It’s not that I do not like SM but it’s just too far from home. I could even count in my fingers the number of times I visit that mall in a year. What a sight welcomed us in the Uptown. I was surprised by the developments that surround SM. It’s not that I am not aware of what’s going on in the city. I see pictures from time to time posted by my fellow bloggers and photo enthusiasts here in CDO. But the feeling was different when I saw Uptown that day that has rapidly escalated into a modern and classy community. Aside from high-end car showrooms and upscale subdivisions, I was bedazzled to see condominiums rising like mushrooms. There’s Primaverra and GranVia Suites. I know there are more coming as I see fenced lots with cranes and heavy equipment that are currently building more mid-rise real estate constructions that will again redefine Uptown CDO’s skyline. The progressive trend of condo living in the uptown may be caused by several factors. First, CDO’s population has continuously increased as more people from other provinces and cities have chosen to live here either temporarily or for good. As the center of economy in Region X, businesses and investments are here that created jobs and opportunities. Kids are also being sent here for education as CDO has the best colleges and universities. Second, even Kagayanons have decided to transfer in the uptown as the downtown has been experiencing floods, especially when Typhoon Sendong devastated the city. Third, condo living may be more appealing today because of the ease of maintenance as compared to a high-maintenance home. For those who puts safety and security as their top priority, condominiums have security measures with CCTV cameras, 24/7 fire alarm system, and security guards. Some condo developers offer Personal Access Card Key (PACK) to  their residents that prevents unauthorized access to their units. And lastly, the location. These condominiums in the uptown are situated near SM City; schools like Xavier University Manressa Campus, XUHS, and Corpus Cristi; and chapels. Condo living in Uptown CDO addresses the needs of modern Kagayanons. These vertical residential offerings provide residents convenience by having all the things they need within reach. And with the increasing number of crimes in Cagayan de Oro, these well guarded condos with all the necessary security checks installed ensure peace of mind to anybody who lives there. So, having these comparative analysis, I now have an answer why condo units in the uptown are selling like pan cakes. Photos by Mike Sivintin   Source: http://tsadagyud.com/

Italpinas buys CDO lot for Primavera City project

GREENBUILDER Italpinas Development Corp. (IDC) said it has made a partial down payment of P1 million for a portion of land that it is buying for its Primavera City project in Cagayan de Oro City. Primavera City is a seven-building mixed-use condominium development in Cagayan de Oro City that will offer residential units as well as some commercial and office components. In a disclosure to the Philippine Stock Exchange on Friday, IDC also said it has paid a reservation fee of P100,000 for the piece of land, which is located at Block 20, Lot 1, Pueblo de Oro Business Park, Carmen, Cagayan de Oro City. The company did not disclose the full purchase price of the parcel of land. Earlier this month, IDC announced that it is set to break ground on the Primavera City development in the second quarter of the year. It said construction of the building will be in various phases, and Phase 1 will involve construction of two towers with 11 floors each. The two towers of Phase 1 will have 337 units, of which 57 will be commercial units, 231 will be studio bedroom units, and 27 will be two studio-bedroom units. Last November, IDC vice president for banking and business development Harold Dacumos said that the development cost for Phase 1 is estimated at P670 million Primavera City is IDC’s follow-up to its flagship Primavera Residences project, which is also in Cagayan De Oro. The said project was given recognition by the International Finance Corp. after it received the World Bank Group’s Excellence in Design for Greater Efficiencies (Edge) certification.