ItalPinas Development Corp. (IDC) announced additional projects located in Palawan, Boracay and Pampanga.
The realtor, in a statement on March 2 said that the new projects follow the acquisition of a 15-percent stake by businessman Benjamin Tan Co. in the company in November for P187.93 million.
IDC said five projects are covered by the joint venture (JV) agreements between Co’s camp and the company — three in Palawan, one in Pampanga and one in Boracay.
“Three of the five new projects are located in Puerto Princesa, 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 Romolo Nati, IDC chairman.
“…as developers, we have brought environmentally responsible design to all our buildings through passive performance and biophilic architecture. Nature and wellbeing 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,” he added.
The three new projects in Palawan complement an existing JV between Co and IDC — Riviera Puerto — also signed last year.
IDC said the three new projects will be named Verona Princesa, Verona Puerto and Verona Costa Verde.
Verona Princesa will be an urban oasis that will rise on a 2,000-square-meter (sq.m.) lot in Brgy. Bancao-Bancao, “combining the best of city living with up-and-coming energy of this growing leisure and tourism hotspot.”
IDC said Verona Princesa will be a mixed-use development featuring “condominium living, and commercial areas/retail spaces offering and vibrant center designed to foster community and creativity” close to the airport and seaport.
Verona Puerto will rise in Barangay Tagburos and offer a “seamless blend of modernity and tradition” on a 5,400-sq.m. lot featuring retail spaces as well as walk-up condominium homes.
Verona Costa Verde will rise in Barangay. Tiniguiban offering walk-up condominiums across a 7,600-sq.m. lot.
“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,” IDC said.
The Pampanga JV will be called Parco Leonardo located on a 15-hectare property in Mexico, Pampanga.
“It 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 subdivision developed by IDC Homes (a subsidiary of IDC), inspired by the elegant simplicity of Italian design and offering a serene and sophisticated lifestyle,” IDC said.
Miramare Residences will be a seaside development in Boracay, boasting of “modern architecture, and a commitment to sustainability,” the company said.
“As a branded condotel and collection of branded residences, it is slated to consist of about 140 apartments. Developed by IDC Prime (also a subsidiary of IDC), it will be the perfect retreat for those seeking both comfort and connection to nature on this world-famous island gem,” the company added.
IDC said Co is a prominent businessman and serial entrepreneur with a broad portfolio of interests throughout Philippine industry, including in petrochemicals, PVC resins and products, steel manufacturing, and others.
