+Italpinas Development Corp. has entered into a new joint venture agreement that will expand its presence in Cagayan de Oro City.
The company said its management has signed the agreement for the partnership that will develop a series of “low-rise walk-up green buildings (four stories), offering both residential and commercial space” in Cagayan de Oro.
“The chosen format will accentuate the precinct’s community-centered character, while simultaneously delivering contemporary Italian design, open spaces, and modern conveniences. The architectural design will be in keeping with the Italian-Filipino company’s philosophy of bringing cutting-edge, sustainable design to dynamic, emerging Philippine cities,” it said.
Italpinas, however, did not identify its joint venture partner or how much it is shelling for the venture but said the other party is the owner of the property where the project will rise.
Italpinas said the 11,327- square meter (sq.m.) property is located in a “flood-free” uptown area of Cagayan de Oro.
The new project site is located near Italpinas’ existing project – Primavera Residences and Primavera City. The location will enable the company to leverage its well-established knowledge of the local area and its dynamic market conditions, Italpinas said.
