Mindanao project boosts Italpinas income

Design-driven developer Italpinas has reported a 142.9 percent increase in net income last year on the back of its pioneering project in Uptown Cagayan de Oro.

The company recorded net sales of R216 million for the two-tower condo, a 62 percent increase year-on-year, as of the end of fiscal year 2015.

Likewise, Italpinas said that 82 percent of the 328 units in both towers have already been sold, with only six remaining in the first.

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Listed developer Italpinas Development Corp. was recently awarded the Leadership in Sustainability Design Award by the Philippine Green Building Council for its pioneering Primavera Residences project in Uptown Cagayan de Oro, and will represent the country at the coming World Green Building Council Asia Pacific Regional Network Leadership Awards for the same category.

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Italpinas eyes tourism property market

Greenbuilder Italpinas Development Corp. plans to tap into the growing tourism market to answer rising demand for tourism-related developments, a company official said.

In a recent interview, Italpinas President Jose Leviste 3rd told The Manila Times that the firm is looking to enter the tourism market, possibly with property in Mindoro.

“We’re looking at a prospect in Mindoro for a tourism development,” Leviste said.

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