IDC Prime Inc. and Bank of Philippine Islands (BPI) signed a loan agreement for the development of Primavera City Phase 3 called the “Citta Grande” in Cagayan de Oro City.
IDC Prime, a wholly-owned subsidiary of Italpinas Development Corp. (IDC) established on Aug. 19, 2019, focuses on designing and developing EDGE-certified green buildings for the open market.
The company is responsible for the overall planning, development, construction, sales and marketing of Primavera City Phase 3.
Located in Upper Carmen CDO at the Pueblo de Oro Business Park and contiguous to SM City Mall, Citta Grande is an integral part of the Primavera City complex, a multi-awarded sustainable development project consisting of six 11-story buildings that were designed as a mixed-use sustainable and eco -friendly edifice.
The seventh building in the Primavera City complex is a 32-story mixed-use residential building for the upscale market with several floors to be operated and managed by Ascott through its Citadines brand.
“Primavera City’s competitive advantage lies in its unique eco-friendly features and modern elegant Italian design and above all, value for money investment where no similar type of development is offered by other properties in the area,” said IDC executive chairman and chief executive Romolo Nati.
“Moreover, our projects are planned with parametric architecture that integrate in the design processes various parameters such as weather conditions, sun paths, financial responsiveness and functional criteria to bring the best possible product accessible to buy and with higher appreciation value,” Nati said.
Total investment cost of Citta Grande is about P900 million, with construction slated to be completed by 2026.
Nati said IDC considers BPI as its key strategic partner, “as we are both committed to pursuing sustainable development projects in harmony with the environment to bring added value to investors, end-users and the community.”
