2 weeks ago
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Publicly listed Italpinas Development Corporation (IDC) is expanding its presence to Pampanga, Boracay, and Palawan through joint venture agreements with the Co family, a strategic investor which recently acquired a 15 percent stake in the company.
IDC said it has signed five new joint venture agreements with the Co family for the development of innovative real estate projects.
As an environmentally friendly, design-forward real estate developer, the firm has made a name for itself by blending contemporary Italian design with the vibrancy of rapidly growing regions of the Philippines.
Three of the five new sites are located in Puerto Princesa City, which is both the gateway to Palawan, featuring an international airport, as well as a growing center in itself.
“IDC is unique for its elegant and green architecture. Palawan is one of a kind for its natural beauty and its environmentalist culture. This is a perfect match,” said IDC Chairman and CEO Architect Romolo Nati.
Palawan features unique policies and guidelines, including the Palawan Council for Sustainable Development, and the Palawan Sustainable Development Strategy and Action Plan.
Nati said, “As developers, we have brought environmentally responsible design to all our buildings through passive performance and biophilic architecture. Nature and well-being have always come first in our developments. We want our design ethos to echo Palawan’s unique values and accentuate its world-famous natural beauty.”
“Tourism creates livelihoods and can transform local economies… As Palawan continues to attract more visitors, IDC intends to participate in the balancing of growth and conservation, which is a crucial and long-term task,” said IDC Preisdent Jose D. Leviste III.
He added that, “We can do this as real estate developers by bringing our environmentally sound design ethos to set an example for contemporary development that accentuates Palawan’s combination of natural beauty and environmental responsibility.”
The first project, Parco Leonardo, located in Mexico, Pampanga, will be a premier residential community featuring lush green spaces and state-of-the-art amenities.
Arising on a 15-hectare footprint, the project will be a subdivision developed by IDC subsidiary IDC Homes, inspired by the elegant simplicity of Italian design and offering a serene and sophisticated lifestyle.
In Boracay, IDC will launch Miramare Residences, a seaside development that will boast stunning views, modern architecture, and a commitment to sustainability.
As a branded condotel and collection of branded residences, it is slated to consist of about 140 apartments and will be developed by IDC Prime, also a subsidiary of IDC.
In Palawan, Verona Princesa will be built by IDC Homes on a 2,000-square meter (sqm) lot in Bancao-Bancao, Puerto Princesa City, Palawan. With its ideal location close to both sea and airport, this project will be a mixed-use development featuring condominium living, commercial areas, and retail spaces.
Verona Puerto, to be built by IDC Homes on a 5,400-sqm lot in Tagburos, Puerto Princesa City, will be a mixed-use development featuring retail spaces as well as walk-up condominium homes.
In Tiniguiban, Puerto Princesa City, IDC Homes will build Verona Costa Verde, which will offer walk-up condominiums across 7,600 sqm. This project will feature the thoughtfully designed living spaces, sustainable building practices, and amenities that have become a hallmark of IDC’s promotion of well-being and environmental stewardship.
In addition, the Co family and IDC entered into a JV last year for the development of a property in Mitra Road, Puerto Princesa City, Palawan. The development, named Riviera Puerto, will be a premium sustainable residential-leisure development with first-class amenities. It is currently at the design stage.
