Italpinas sets P653 M for new project
SUN STAR NEWS, 11 OCTOBER 2016
Green property developer, Italpinas Development Corporation (IDC) is set to construct its new project, Primavera City, with a Php 653 million investment.
On October 1, 2016, the construction of the first phase of the project kicked off during its “Cornerstone Laying Ceremony,” at its site located in Macapagal Drive, Pueblo de Oro Business Park, Cagayan de Oro.
The new real estate development is a fitting follow up to the multi-awarded Italian-designed Primavera Residences.
Due to its prime location, the project will create an economic activity within the area, said IDC President Atty. Jose Leviste III.
Its location will provide residents with a flood-free environment in an urban setting atmosphere, emphasized by Leviste.
The Primavera City site is situated in an economic zone accredited by the Philippine Economic Zone Authority (PEZA), where investors may avail of both non-fiscal and fiscal incentives.
The construction of the first phase of Primavera City, Towers A and B, is expected to finish by the third quarter of 2018. Towers A and B are part of a seven-tower eco-friendly integrated development. The first six towers will be designed for residential and commercial spaces. The seventh and final tower is envisioned to be a 32-storey hotel.
Italpinas Development Corporation, the developer of Primavera Residences, garnered both international and national awards for its commitment to green living and architectural design. It was recognized as among the winners in the prestigious Asia Pacific Property Awards in the 2014 Asia Pacific regional competition as the Best Mixed-Use Development in the Philippines. It has been awarded also as the Best Condo Development in the Philippines in 2011 (Southeast Asia Property Awards) and a finalist in the Most Promising Energy Investment Opportunity of the Year (CTI PFAN Philippines Clean Energy Investor Forum). Primavera Residences was recently given the distinction as the First Completed Condominium Project in East Asia to be given the EDGE (Excellence in Design For Greater Efficiencies) Certificate, awarded by IFC World Bank.
