Italpinas Development Corp. (IDC), a boutique property developer led by businessman Romolo Nati, is expanding its footprint in Cagayan de Oro City through a new mixed-use venture.
According to a regulatory filing, IDC said its majority-owned subsidiary, IDC Prime Inc., has entered a joint venture agreement with Gilda Go to transform her Lapasan property in Cagayan de Oro City into a mixed-use project.
IDC said the project will require an investment of P1.2 billion.
While the negotiations for the agreement were spearheaded by IDC, the actual execution of the project has been entrusted to IDC Prime. This decision aims to streamline operations and allow IDC to concentrate on strategic decision-making and the pursuit of additional initiatives.
The company’s strategic vision involves expanding its project portfolio by involving its subsidiaries in the development process.
IDC’s initial foray into the development arena was the creation of Primavera Residences, a twin-tower 10-story mixed-use condominium complex situated within the Pueblo de Oro Township in Cagayan de Oro.
As part of its ongoing commitment to sustainability, the company has introduced Primavera City, its latest sustainable mixed-use condominium project, which is also located within the Pueblo de Oro Township.
