Primavera City Boosted Record Profit for May 2020

June 16, 2020 – Eco-friendly Real Estate developer Italpinas Development Corporation through its Cagayan de Oro Branch Office at Uptown Cagayan de Oro,  recorded an increase of Sales volume last May 2020 with 467 percent increase, another record high for the company, despite the on-going crisis the country is facing.

“The first semester continued to be encouraging. We are not seeing any kind of reduction in terms of the demand in the market. The market remains quite healthy. And we thanked our valued sales force for showing their support throughout!” said Ms. Gladys M. Echano, IDC- Sales Director

The coronavirus pandemic has been, to say the least, grim for businesses. Widespread layoffs and furloughs have prompted about 17 percent of the country’s unemployment rate. But during this upheaval, Cagayan de Oro IDC Sales Office has been thriving because of dramatic shifts in consumer behavior on green building’s health benefits and investment purposes.

IDC said its property sales have been “encouraging” in the first semester of the year, giving the company confidence that it can at least match last year’s growth. The company believes in times like this IDC will always have the solution and the right product. The start of 2020 was challenging with the occurrence of unforeseeable events especially the COVID-19 pandemic. IDC will focus on optimizing its existing portfolio of investment properties namely Primavera City at Uptown Cagayan de Oro. 

The company currently has two major projects. Primavera City in Cagayan de Oro is a cluster of seven buildings to be developed in four phases. Miramonti Green Residences, on the other hand, is located inside Light and Industry Science Park in Batangas, and will be developed in two phases.

Citta Bella at Primavera City is the new high-rise, an eco-friendly building that will rise in Uptown Cagayan de Oro, located along the junction of P.N Roa Ave. and Masterson Ave. Citta Bella is the second phase of the Primavera City project complex.  Citta Verde is Phase 1 and on-going construction, with target construction completion at the end of this year. Citta Grande is Phase 3, which permit application is on-going and the last phase (Phase 4) is Citta Alta.  With its unique design philosophy, IDC™ is committed to sustainable developments in harmony with the environment to bring value to investors, end-users, and the community. Being first movers in this field, IDC™ has proven its concept with the success of its projects.

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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.