Italpinas Development Corp., the listed property developer, sees a good year in 2022 following a challenging 2021, on expectations that there would be a sharp recovery of the economy next year.
“I think it will be a good year. It looks like the Philippines was able to control the pandemic pretty well and today cases are down, economy is opening up and, above all, I can see people’s behaviors going back to normal. I can bet that there will be a sharp recovery of the economy. We may be surprised that the Philippines will exit from this pandemic and look more attractive to foreign investors. The country was able to react properly to the challenge brought by COVID. This will not pass unobserved,” said IDC chairman Romolo Nati.
While this year was challenging, no thanks to the pandemic, Nati is grateful that because these difficulties – including delays in the delivery of goods, strict restrictions to operate, reduced traveling and other impediments — gave us the opportunity to enhance IDC overall performance and meet expected returns.
“Troubled seas make skillful sailors!” Nati said with pride.
Thus, IDC is continuing with its plans for growth and expansion.
“The developments we have done so far can be considered part of an IDC pilot project plan. We have proven that we can implement our plans. This was IDC chapter 1; we created a new company propelled by pure enthusiasm and skills, we have been able to create a niche we are now visible in an arena which is the real estate industry, populated by giants. That’s a big achievement for us.
“We are now ready to graduate to the next league. We intend to bring our innovative green design to more people in the country. To do so we may forge partnerships with valuable partners that are aligned with our core values,” Nati said.
Of course, as he noted, the year was not without challenges such as those related to operations, communications, supply and other functions which were forced to undergo big changes in a very short period of time.
In search of safer, cleaner environments
“Fortunately, the change in market sentiment aligned itself to IDC’s value proposition—living outside congested areas in green buildings that are accessible in terms of price and logistics. One of the effects of the pandemic was that people understand more the importance of investing and living in better and cleaner environments outside highly populated areas,” Nati said.
IDC’s developments include Primavera Residences Green Residences in Cagayan de Oro City, which is the company’s maiden project and the Primavera City, a cluster of mixed-use green condos consisting of 3 mid rise seven buildings and an high rise tower , to be developed in four three phases.
The whole development includes Citta Verde,Citta Bella, Citta’ Grande and Citta’ Alta.
Its latest project is a vertical mixed use housing green development in Sto. Tomas, Batangas, which is the Miramonti Green Residences.
This development is a mixed-use twenty- one storey, green buildingS, showcasing IDC’s trademark design philosophies.
All the above projects have been awarded at the South East Asia property award as best mix used buildings in the Philippines in different years and they are all rated green by EDGE, the green rating system developed by the world bank group through ifc.
Moving forward to 2022, Nati said, IDC has learned to adapt and to deal with unpredictability.
“We still have to plan properly but we need to factor in that the entire scenario can literally change overnight. We need to have contingency plans and be able to implement them very fast. We need to adapt to the environment,” he said.
In all, IDC said being a listed company–now in its sixth year–has helped it navigate the challenging times by giving the company strength, energy and vigor.
“Listed companies have to comply with several regulatory bodies and good governance requirements to protect shareholders. But these efforts also helped us to strengthen the company. We are now capable of scale and are able to operate profitably in a highly competitive environment. In short, we are ready to scale up the company and become a leader in green sustainable development in the Philippines,” Nati said.