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Real estate developer’s P242 m planned IPO gets green light by SEC

ITALPINAS Development Corporation (IDC), a sustainable real estate firm, has its P242 million planned IPO approved by the Securities and Exchange Commission.

The company offers 57.62-million shares to the public at P4.20 per share price offer, to raise P242 million by listing at the small, medium, and emerging (SME) board of the Philippines Stock Exchange (PSE).

Established in 2009 by Romolo V. Nati, an Italian architect; and Jose “Jojo” D. Leviste III, a Filipino lawyer, IDC is a design-driven, real estate development company.

“Investment in IDC is attractive to both local and foreign investors seeking exposure to the momentum of the Philippines’ demographic trajectory, and also overseas Filipinos seeking to invest in world-class living standards in their home provinces,” IDC executive chairman and COO Romolo V. Nati said.

Italpinas is focused on designing sustainable but accessible mixed-use developments (residential, office, commercial) housing in up and coming cities, such as Cagayan de Oro City, Sto. Tomas and Lipa in Batangas; and Dumaguete in Negros Oriental, among others.

The company decided to do these developments to address the demand for quality housing in these areas. IDC also aims to become the first, in any of these cities, to introduce the concept of sustainable living with first-class amenities.

The company, likewise, aims to help the Philippines address its rapid urbanization, which creates not only environmental problems like pollution, but also social problems like lack of housing facilities mainly in growing cities.

“One way to decongest Metro Manila is to develop the provinces. People live in the crowded city because developers usually build properties in the metro, but if you put your buildings in the emerging cities and provinces, people will also invest and live there,” Nati said.

“Supporting growth of viable and attractive cities throughout the Philippines would not only reverse urban migration, but also spread commerce and resources more broadly to millions of Filipinos across our archipelago,” said Jojo Leviste, president of IDC and renewable energy company Constellation Energy Corporation (CEC) Philippines.

The company’s building philosophy is focused on sustainability which aims to meet economical, environmental, and social goals. This gives the firm and unique selling point when it comes to its building projects.

The company is set to complete its first project in Cagayan de Oro, Primavera Residences. It prides itself of a sustainable-architectural design and Italian flair that would appeal to local residents, overseas Filipino workers (OFWs) from the provinces, and those looking to purchase homes that use sustainable energy and chic living.

Nati said the inspiration behind IDC’s projects is the native bahay kubo which, to him, is the most sustainable form of architecture because of its locally sourced materials, such as nipa and bamboo.

The bahay kubo, he said, allows natural light in and ushers in a cool breeze through light and eco-friendly materials. Further, it is floodesistant because it is built on wooden stilts.

In the same way, Nati said, their projects feature the use of natural light with all units having options to have open windows on both sides which will also have natural freeze breeze in. With these, “passive green features” the unit owners can save more than 22% energy consumption. pr


About Mindanao Goldstar Daily

Mindanao Goldstar Daily

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