Italpinas Development Corporation (IDC), a pioneering force in sustainable real estate development in the Philippines, has secured a ₱188-million investment, equivalent to a 15% stake in the company as its new partner and investor, from prominent businessman Benjamin Tan Co by way of private placement.
This strategic investment further solidifies IDC’s financial strength, enhances its ability to execute large-scale projects, and positions it as a key player in the country’s evolving real estate landscape.
In a statement, IDC said it has inked an agreement for the entry of Co as a strategic investor by way of private placement.
The investment finalized last Friday is a purchase of 15 percent of IDC’s primary shares priced at P1.99 per share (calculated as book value as of the company’s 2023 Financial Statement). This is a premium over IDC’s closing price of P1.39 per share last Friday. IDC said Co is a prominent businessman and serial entrepreneur with a broad portfolio of interests throughout Philippine industry, including petrochemicals, PVC resins and products, steel manufacturing, and others.
“The Philippine economy has a bright and dynamic future, and this includes real estate, especially in areas outside Metro Manila that are still relatively underserved,” said Co.
He added that, “With a track record of 15 years in the industry, its proven capabilities, outstanding Italian green architecture, and full commitment to sustainable development, IDC is a perfect strategic partner for me to join and develop my property portfolio.”
IDC’s ability to attract high-profile investors like Benjamin Tan Co is a testament to its solid track record and strong growth potential. The company’s focus on emerging locations, rather than oversaturated urban centers, has proven to be a strategic advantage, allowing it to tap into markets with high appreciation potential while contributing to regional economic development.
With this latest investment, IDC is not only securing its future but also paving the way for a new era in Philippine real estate—one that prioritizes environmental stewardship, innovative design, and long-term value. As it continues to break new ground, IDC remains steadfast in its mission to redefine the way communities are built, proving that sustainable development is not just an option, but the future of real estate.
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