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.
Primavera City is the new high-rise, eco-friendly building which will rise in uptown Cagayan de Oro.
Primavera City will soon offer the distinctive ltalian design and world-class construction standards that are a trademark of IDC developments.
PRIMAVERA CITY ACCESS Macapagal Avenue, Pueblo de Oro Business Park, Upper CarmenCagayan de Oro City 9000 HEAD OFFICE 28 floor/ unit 28c BPI Philam-Life building, Ayala Avenue, Makati City – Manila – Philippines PRIMAVERA SALES OFFICE 2F Primavera Residences, Pueblo de Oro Business Park, Upper Carmen, Cagayan de Oro City 9000 PHONE 0977 8334837 / 0917 794 2221 / (088) 880-5002 EMAIL firstname.lastname@example.org
This material and this presentation have been provided by IDC Development Corporation and is a general background on IDC current activities at the date of this presentation. The information is given in summary and does not purport to be complete. This presentation may contain forward-looking statements, including statements regarding our intent, belief or current expectation with respect to IDC businesses and operations, market conditions, and anticipated results of operation. IDC does not undertake any obligation to publicly release the result of any revisions to these forward-looking statements to reflect events or circumstances after date hereof to reflect the occurrence of unanticipated events. While due care has been used in preparation of forecast information, actual results may vary in a materially positive or negative manner. Forecasts any hypothetically examples are subject to uncertainty and contingencies outside IDC’s control.