CERTIFIED green builder Italpinas Development Corporation (IDC) has set for the second quarter of this year the launch of its new huge and groundbreaking project Primavera City in Cagayan de Oro City.
IDC made its mark in the real estate industry as the first Philippine company certified by the International Finance Corp. (IFC) World Bank Group Excellence in Design for Greater Efficiencies (Edge) for its flagship project also in Cagayan de Oro City, the Primavera Residences.
IDC Chairman and COO Romolo Valentino Nati, an Italian architect, said Phase 1 of Primavera City involves the construction of two towers of integrated multifunctional buildings (commercial, office, residential) project with 11 floors each. Located at the Pueblo de Oro Business Park, Upper Carmen, Cagayan de Oro (near SM City Cagayan de Oro), the project entails an investment of P653 million.
“Primavera City is a fitting follow-up to our highly successful and multi-awarded Primavera Residences, which caught the fancy of not just Filipino but even foreign buyers and property experts for its modern Italian design infused with eco-friendly architecture,” Nati emphasized.
The grand launch will be in the second quarter, and start of construction of the Primavera City Phase 1 is third quarter of 2016. IDC targets the completion of the project and the turnover of its units to their owners by the third quarter of 2018.
IDC President Jose “Jojo” D. Leviste III said the two towers of Primavera City Phase 1 is designed to have 337 units, 57 of them commercial units; 231 are studio-type; 22 are one-bedroom units, and 27 are two-bedroom units.
Their average sizes are 50 to 60 square meters (sqm) for commercial units, 28 sqm for studio-type units, 47 sqm for the single-bedroom units, and 70 sqm for the two-bedroom units.
“We will conduct extensive marketing for our target buyers that include employed and/or self employed individuals with gross family income of at least P50,000 such as local entrepreneurs, SME’s, OFW’s, young professionals and retirees, among others. With Cagayan de Oro City now an emerging tourism and investment destination in the country, Primavera City is a great buy, not just for first-time home owners, but also for investors,” Leviste, a lawyer, stressed.
Nati said Primavera City is envisioned to be another IDC award-winning sustainable-development project, with its passive green features, such as increased natural ventilation, shaded façade and semi-transparent photo-voltaic panels covering the amenities located on the rooftop, among others.
The project has been recognized as highly commended condo by the Climate Technology Initiative Private Financing Advisory Network (Ctipfan) in Singapore in 2014.
You may also visit other project of ITALPINAS DEVELOPMENT CORPORATION in Cagayan de Oro City: