Landbank Visits IDC’s Miramonti Green Residences

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Miramonti Green Residences, another condominium project by PSE listed developer Italpinas Development Corporation is rapidly changing the residential landscape of the Sto. Tomas, Batangas.

On February 8, 2019, Land Bank of Philippines (LBP) visited the Miramonti Green Residences – a mixed-use condominium project of Italpinas Development Corporation (IDC) located at No. 1 Millenium Drive, RFM Science Park/LISP III, Barangay San Rafael, Sto. Tomas, Batangas. This visit is part of the periodic inspection being done by the bank for projects that it has assisted.

The LBP team was composed of Ms. Marietta Cajuguiran, Vice President/Head, Corporate Banking Department 1, Ms. Grace Limboc, Account Officer and Ms. Beverly Alcantara, Account Assistant. They met with IDC officers led by Mr. Harold Dacumos, Senior Vice- President together with Engr. Giuseppe Garofalo, Head of Engineering and Ms. Aleli Villacorte, Sales Director of Miramonti.

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SVP Dacumos apprised the LBP Team about the overall progress of the project, while Ms. Villacorte gave a report that IDC started pre-selling last July, 2018 and sold to date 179 residential units representing 50% of the 358 saleable residential units. On the technical aspect, Engr. Garofalo updated the LBP team on the status of project construction. D.L. Cervantes, a triple A contractor, who is responsible for structural works has started last December 1, 2018. The updated construction timeline submitted to LBP indicate that more than 20% construction progress will be reached by April, 2019.

“We are very pleased to note that the Miramonti Green Residences Project of Italpinas Development Corporation (IDC) which is partially funded by Land Bank of the Philippines (LBP) has already sold 179 residential units in just a period of six months from start of pre-selling last July, 2018. This is 50% of the 358 residential unit inventory, which is a very good news. We also note that the road realignment and relocation of the Meralco posts has been completed and with the building construction commencing on December 1, 2018 with the foundation works on-going” said Ms. Marietta B. Cajuguiran, Vice President/Head, Corporate Banking Department 1.

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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.