Italpinas builds Filipino homes with European flair
MILLIONS of Filipinos have taken the option to work abroad to give their families a better life. Many of them have, in fact, decided to assume the nationality of the country where they work for decades. Still, a greater majority would prefer to return to their roots eventually.
For those who choose to return home to the Philippines, the decision may not be easy, since the amenities they have been used to in the countries where they work in are a world apart from those available back home.
This reality is what Italpinas Development Corp. (IDC) hopes to provide Filipinos who opt to return home. IDC is a real-estate firm that blends Italian design with indigenous Filipino and locally sourced materials. It uses solar-panel facilities to generate electricity for common use, which also reduce carbon footprint in their areas.
The company’s stalwarts are Arch. Romolo Valentino Nati, a creative Italian architect; and lawyer Jose D. Leviste III, a Filipino entrepreneur who is into sustainable development. Together, they have built a firm that offers a unique proposition—Filipino homes with European flair for both design and comfort in suitable regional cities of the Philippines.
“Our aesthetic design and philosophy operate in tandem with a commitment to environmental conservation. The results of our design innovations not only lighten the impact of development on the environment, but also lessen the dependence of homeowners on energy and water for comfort. This translates to savings, a key value proposition of our developments,” emphasized Nati, the IDC chairman and COO.
IDC uses parametric architecture to build ideal homes for Filipino families. Its unique architectural style and unparalleled design process involve a particular software running in graphic stations with high-powered computers. The technology allows IDC to design homes that maximize the available natural light in an area, as well as the cool breeze that can help keep homes cool, thereby minimizing the need for air-conditioning units.
“This software is able to integrate various parameters, such as functional needs, weather conditions, financial requirements, among others, and finds the best possible combination of all these elements in various degrees. The final-design results represent the best possible solution [based on given data]. This process can also be called performance-based design, because it is expected to perform best out of many possible combinations and permutations,” said Leviste, IDC president.
IDC’s sustainable designs have already been widely recognized by prestigious international organizations. The company, in fact, already won a number of awards in International Property Development in Singapore, Kuala Lumpur and in Manila.
Its Primavera City development project in Cagayan de Oro City has been awarded by the Climate Technology Initiative Private Financing Advisory Network (CTI PFAN) as the “Most Promising Clean Energy Investment Opportunities” in 2013.
CTI PFAN’s funding partners include the Asian Development Bank (ADB) and the United States Agency for International Development.
The company’s other project—its debut venture, the Primavera Residences, also in Cagayan—started construction in June 2010. It is consist of two midrise towers. The first was completed in August 2012; the second is due for completion this year.
Primavera Residences is at the Pueblo de Oro Township Business Park, a world-class master-planned community in flood-free uptown Cagayan. It is adjacent to SM City Cagayan de Oro, schools, offices, churches and a golf course.
Italpinas has also set its sights on other locations, such as Lipa and Santo Tomas in Batangas, Dumaguete and Mindoro, among others. IDC recently announced it is set to launch an initial public offering (IPO) this year to raise funds to help fund its new and ongoing development projects. The Securities and Exchange Commission has approved IDC’s request to undertake its IPO. The Philippine Stock Exchange has also approved its IPO.
The company offers 57.622 million primary common shares, at a maximum of P4.20 per share. IDC sees bright prospects for its IPO venture and plans for the development of integrated property projects both in Cagayan and Santo Tomas, Batangas.
IDC—formerly known as Italpinas Euroasian Design and Eco-Development Corp.—plans to develop several projects, ranging from mixed-use buildings to condotels, hotels, resorts and beach communities all over the country—and has been featured in National Geographic Asia and in Asian Dragon for its innovations and contributions to the real- estate industry.