IDC execs highlights CDO developments and environmental sustainability in estate industry

FEATURE
July 22, 2019

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MANILA - Italpinas Development Corporation (IDCTM) Chairman & CEO, Architect Romolo V. Nati, together with IDC’s Director for Design and Construction, Engr. Giuseppe Garofalo, were invited at a sit-down interview at the PTV4’s headquarters last June 7, 2019 with the Philippines’ largest and most influential weekly business and news magazine, BizNewsAsia.
    
Hosted by Ms. Elizabeth Lee and Mr Tony Lopez, the founder, president, chairman and CEO of BizNewsAsia, the sit-down interview offered an opportunity to discuss with IDC’s guests about the rising trend and current condition of Philippine real estate industry. 
    
Arch. Nati shared his insights on the topic, mentioning IDCTM as an example of a rising real estate development company, in different areas of the Philippines, emphasizing the importance of his company’s vision that is “creating design-driven sustainable developments in emerging cities, accessible to the new middle class”.
    
Alongside his vision, Arch. Nati shared the latest news regarding IDC’s eco-friendly developments being Primavera City, located uptown Cagayan de Oro in Northern Mindanao and the high-rise mixed use green buildings, Miramonti Green Residences, located in Sto. Tomas, Batangas.
    
Both the projects have been awarded as Best Mixed-use Development in the Philippines by Asia-Pacific International Property Awards which is a highly acclaimed award in the worldwide property industry. 
    
Primavera City, that will future six mid-rise towers and a high rise tower, is going to be developed in 4 phases the first of which, Citta’ Verde is nearing completion and its phase 2 Citta’ Bella recently awarded a license to sell.  Arch. Nati said Primavera City’s Citta’ Bella will be followed by Citta’ Grande and by the 7th tallest tower, Citta’ Alta.
    
The construction of the first phase of Miramonti Green Residences, a 21 storey green building, strategically located in an Industrial park in Sto. Tomas, between Metro Manila and the port of Batangas City, is ongoing and the company is currently accelerating the process to obtain the required permits to start the second phase. This will be featuring other 2 buildings with same number of storey and adopting, as in all IDC’s projects, the best principles of passive building technology: shadow and sunlight control, wind cooling and shape performance.
    
Following this information, the interview then discussed the importance of eco-friendliness in construction and its appeal to possible tenants and future owners. 
    
Arch. Nati ended his interview by sharing the news that Italpinas Development Corporation has filed a registration statement with the Securities and Exchange Commission for a share sale. 
    
The offering involves up to 33.3 million preferred shares with an over-allotment of 10 million shares to be taken from the unissued authorized capital stock of the corporation at an offer price of P15 per share. At 43 million shares, the company could raise as much as P645 million.

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