IDC Prime Inc. and the Bank of the Philippine Islands signed a developmental loan agreement last September 4, 2024, for the development of the Primavera City Phase 3 project also known as Citta Grande, located in IDC’s first home base Cagayan de Oro City.
The signing ceremony, which was held at the new BPI office at Ayala Triangle Gardens Tower 2 (ATG2), was graced by top-level executives from the bank’s Institutional and Commercial Banking namely Juan Carlos Syquia, Executive Vice President/Head of Institutional Banking and Luis E. Cruz, Senior Vice President/Group Head of Commercial Banking. Meanwhile, IDC was well represented by Chairman and CEO Arch. Romolo V. Nati and President Atty. Jose “Jojo” D. Leviste III IDC Prime Inc, a wholly owned subsidiary of Italpinas Development Corporation (IDC), was established on August 19, 2019, with a focus on designing and developing EDGE-certified green buildings for the premium market.
IDC Prime is also responsible for the overall planning, development, construction, sales and marketing of Primavera City 3 which is also known as Citta Grande. Located in Upper Carmen Cagayan deOro City at the Pueblo de Oro Business Park and contiguous to SM City Mall, Citta Grande is an integral part of the Primavera City Complex.
The multi-awarded sustainable developmental project consists of three (3) buildings with eleven stories each. Designed as a mixed-use, sustainable, and eco-friendly edifice. The 4th building in the Primavera City, Città Alta, is designed as a high rise comprising of thirty- two stories, a mixeduse residential for the upscale market with several floors to be operated and managed by Ascott through Citadine brand.
“Primavera City's competitive advantage lies in its unique eco-friendly features and modern elegant Italian design and above all, value for money investment where no similar type of development is offered by other properties in the area. Moreover, our projects are planned with parametric architecture that integrate in the design processes various parameters such as weather conditions, sun paths, financial responsiveness and functional criteria to bring the best possible product accessible to buy and with higher appreciation value.” Said Ar. Nati.
Total investment cost of Citta Grande is close to P900 million with construction slated to be completed in 2026. He also said that IDC and IDC Prime, “look to BPI as our key strategic partner as we are both committed to pursuing sustainable development projects in harmony with the environment to bring added value to investors, end-users, and the community.” \
The signing ceremony was witnessed by Ms. Jeanette Garcia, Senior Vice President, Mr. Jose Jimenez, Vice president and Mr. Martin Arciaga, Relationship Manager all from BPI’s as well as Mr. Harold Dacumos, Senior Vice President of IDC.
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