ITALPINAS EYES P1.4-B SALES FROM MIRAMONTI
LISTED green builder Italpinas Development Corp. expects to generate P1.4 billion in revenues from Miramonti, its first residential project in Luzon which is set to be launched soon.
Italpinas said it will be spending P780 million on the first phase of Miramonti, which is located in Sto. Tomas, Batangas.
“We already have secured permits and other documents. We are now awaiting only the license to sell before launching the project,” Italpinas Chairman and Chief Executive Officer Romolo Nati said.
“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 to industrial parks and it has an amazing view in 360 degrees,” he added.
Miramonti is the firm’s third project after Primavera Residences and Primavera City in Uptown Cagayan de Oro.
“Miramonti is the biggest project we have so far at Italpinas. 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,” Italpinas President Jojo Leviste said.
“Many people are looking for a place to live outside but near to 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.”
Miramonti is a three-story residential tower which will be developed in two phases. The first phase, which will be situated in a 2,057-square-meter site, will comprise one tower sitting atop a podium structure. It will offer 352 residential, 14 commercial, and 88 parking units, combined with first-class amenities such as a fitness center, swimming pool, and playground, among others.
Italpinas will also partner with property management firm Damiani Property Management and Services, Inc. to help its clients acquire passive income through rentals of the property.
Apart from Miramonti, Italpinas is also looking to develop more projects in emerging cities such as Dumaguete and Davao and other areas like Mindoro, Pangasinan, Subic and Bataan.
The article is published in the Manila Times October 15, 2017.