IDC set to launch first project in Luzon

Italpinas Development Corporation (IDC), Cagayan de Oro City’s first green builder, is starting to expand out of Mindanao with the coming launch of the P1.4-billion Miramonti in Sto. Tomas, Batangas.

In a statement, IDC said it will bring to Batangas its experience in developments that are responsive both to the local climate and to the call of the environment.

Aside from Miramonti in Batangas, IDC is also eyeing other emerging cities such as Dumaguete, Davao, Mindoro, Pangasinan and Subic/Bataan as locations for its future projects.

IDC is now preparing to launch the first phase of the project with an estimated budget of P780 million and project revenues of P1.4 billion.

“We already have secured permits and other documents. We are now awaiting only the License to Sell (LTS) before launching the Miramonti project,” said IDC Chairman Romolo Nati.

He added that, “we chose Batangas because the place is booming. It is one of the most progressive provinces in the country. The strategic location of Sto. Tomas is one thing also that attracted us. It is near industrial parks and it has an amazing view in 360 degrees.”

This will be IDC’s third project after Primavera Residences and Primavera City in Uptown Cagayan de Oro.

“Miramonti is the biggest project we have so far at IDC. We are looking forward to serving Luzon for the first time. We have met with the brokers and they are excited as well to market the project,” said IDC President Jojo Leviste.

He noted that, “many people are looking for a place to live outside, but near, Metro Manila. Sto. Tomas and Miramonti are placed right at the hub of these expressways connecting to the Metro area.  Accessibility is one of the project’s defining characteristics.”

The Miramonti project will consist of three towers and will be developed in two phases.

The first phase, which comprises one tower sitting atop of a podium structure, will sit over a 2,057 sqm. land area.

It will offer 352 residential, 14 commercial, and 88 parking units, combined with first- class amenities, such as fitness center, swimming pool, playground, among others.

At the same time, according to Nati, the company has its own property management partner, Damiani Property Management and Services, Inc. to help its clients acquire passive income through rentals of the property.

Published by Manila Bulletin. 

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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.