Italpinas Development Corp., a listed property developer based in Cagayan de Oro City, said it expects to raise P1.4 billion in sales from a new residential development in Batangas province.
Italpinas said in a statement it earmarked P780 million to develop phase one of Miramonti, its first project in Luzon, in Sto. Tomas, Batangas.
“We already have secured permits and other documents. We are now awaiting only the license to sell before launching the Miramonti project,“ said Italpinas chairman and chief executive Romolo Nati.
“We chose Batangas because the place is booming. It is one of the most progressive provinces in the country. The strategic location of Sto. Tomas is one thing also that attracted us. It is near industrial parks,” he said.
Miramonti is the property firm’s third project after Primavera Residences and Primavera City in Uptown Cagayan de Oro. It will also be company’s the biggest project.
“We are looking forward to serving Luzon for the first time. We have met with the brokers and they are excited as well to market the project,“ Italpinas president Jojo Leviste said.
“Many people are looking for a place to live outside but near to Metro Manila. Sto Tomas and Miramonti are places right at the hub of these expressways connecting to the metro area. Accessibility is one of the project’s defining characteristics,” he said.
The Miramonti project will consist of three towers and will be developed in two phases.
The first phase, which comprises one tower sitting atop of a podium structure, will sit over a 2,057-square-meter property.
It will offer 352 residential, 14 commercial and 88 parking units, combined with first- class amenities.
Miramonti will harness green strategies and will reflect authentic Italian design.
The company is currently applying for Edge (Excellence in Design For Greater Efficiencies) certification for the Miramonti project.
The Italian-Filipino green developer was recognized in the national and global arena in the field of architecture and design.
Aside from Miramonti in Batangas, Italpinas is also looking at other emerging cities such as Dumaguete, Davao, Mindoro, Pangasinan and Subic/Bataan as locations for future projects.