Italpinas launches 2nd Primavera City tower in CDO

GREEN developer Italpinas Development Corporation (IDC) launched the second tower of its Primavera City mixed-use project in Cagayan de Oro City on March 8, after sales of units in the first tower “exceeded expectations,” the company’s chairman said.

IDC Chairman and CEO Romolo V. Nati said that IDC opened Tower B of the eventual seven-tower project for sale after 80 percent of the residential units in Tower A were sold.

“The success of the first tower has exceeded expectations,” Nati said.

IDC has two projects in Cagayan de Oro, Primavera Residences and Primavera City, both located in what is known as the uptown district, located south of the downtown area at an elevation of about 150 meters above sea level.

“Our developments respond to the growing interest of the market in a convenient and flood-free area to live,” Nati said.

Primavera City is designed as a seven-tower development, the first phase of which consists of Towers A and B, which IDC said would be completed by the end of next year. The seventh and final tower to be built is planned as a high-rise hotel, which IDC envisions as “an icon of the new and modern face of uptown CDO.”

The two residential towers will consist of 281 residential units in studio, one-bedroom, and two-bedroom layouts, with an option for custom-designed larger configurations, IDC said. The mixed-use buildings will also offer a total of nine commercial units, eight units for restaurants, and 41 office spaces.

IDC highlighted that Primavera City is being built with “cutting-edge green design strategies,” relying on passive cooling technology through the buildings’ shape to control sunlight and provide wind cooling. The buildings will also be equipped with semi-transparent photovoltaic panels to provide renewable energy for some of the development’s electricity needs, and will have a water recycling system to supply landscape irrigation and water for building maintenance.

With the launch of Primavera City Tower B, IDC also announced that it will offer virtual reality tours of the property.

“This will allow clients to take advantage of the favorable prices by buying early, but still be able to tour the finished property in a digital, virtual reality world. IDC’s introduction of this technological advancement will be a first in Mindanao,” the developer said.

The virtual reality tours will be available to prospective clients at the Primavera Sales Office in Cagayan de Oro. The Manila Times.

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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.