Strengthening access and reach is an essential goal of Italpinas Development Corporation (IDC) in order to sustain its mission of promoting greener buildings. Last November 19 and 20, 2024, I had the privilege of engaging with the investment community to present our company profile, growth trajectory, and corporate plans during the third edition of the 2024 PSE STAR: Investor Day. As an Italian architect based in the Philippines leading a growing company, it was a privilege to share the platform with esteemed and well-established institutions.
The two-day virtual briefing, which was hosted by the Philippine Stock Exchange, Inc. (PSE), featured 9 other publicly listed companies including Cebu Air, Inc., China Banking Corporation, D&L Industries, Inc., DigiPlus Interactive Corp., Filinvest REIT Corp., Megaworld Corporation, Philippine National Bank, Raslag Corp., and Robinsons Retail Holdings, Inc.
During the online forum, I highlighted a key point: our financial report showed encouraging signs of recovery from the slowdown triggered by the global COVID-19 pandemic. The real estate sector—undeniably one of the hardest hit industries during the crisis—faced immense challenges. Despite these difficulties, we persevered and adapted, and our efforts have now paid off with a significant surge in sales reservations.
IDC’s resurgence post-pandemic can be largely attributed to our commitment to promoting green living across diverse markets. Together with my co-founder, Atty. Jojo Leviste, we established a company dedicated to meeting the unique needs of a broad clientele. At IDC Homes, we are proud to offer an accessible green living experience through our mid-cost residential developments. A prime example of this is the Verona Green Residences Uptown I in Cagayan de Oro, which stands as a testament to our dedication to providing sustainable housing solutions that are both environmentally responsible and affordable for our customers.
Meanwhile, IDC Prime exemplifies elegant solutions with sustainable features through its integrated mixed-use developments. We believe that a positive living experience cannot be achieved if it is not aligned with nature. Our flagship project, Primavera Residences at Pueblo de Oro in Uptown Cagayan de Oro, is a premier example of this vision. As the city’s first green mixed-use condominium, Primavera is proudly certified by EDGE, setting a new standard for sustainable prestige living.
As a property developer committed to advancing sustainable buildings in the country, we recognize the immense effort and investment required to bring this vision to life. For over two years, we’ve been carefully considering partners who share our mindset and values. Last November 2024, we reached a significant milestone by signing a joint venture agreement with a strategic and trusted investor.
We are confident that our new partnership, with the acquisition of 15 percent of IDC’s primary shares, will strengthen our commitment to creating design-driven and environmentally sustainable buildings. As a matter of fact, the new partner and his associates hold significant land assets across the country, including in Palawan, Cavite, Boracay, Pampanga, Quezon Province, and Quezon City, among others. Prior to this partnership, we already entered into a co-development joint venture with Mr. Co for a prime property in Puerto Princesa, marking another significant step in our expansion.
In addition to our partnership with Mr. Tan Co, IDC has also entered into several other strategic agreements with prominent landowners. In partnership with the Go family, we have entered into two joint ventures, one of which is the development of Firenze Residences—a 15-story, mixed-use building located in the heart of Downtown Cagayan de Oro. Another project in the works is located in Bukidnon, where IDC will develop a 2.5-hectare property featuring luxurious villas and premium residential units.
The projects mentioned above, both developed by IDC Prime, are a result of our collaboration with Dusit Thani Hospitality Group, with whom we have signed management agreements.
Over 15 years ago, Atty. Leviste and I recognized the immense potential in sustainable developments in emerging cities—a vision we both wholeheartedly believed in from the start. Today, the trend has clearly shifted toward developing areas beyond the overcrowded Metro Manila. Building a business with a foundation rooted in advocacy was, and continues to be a bold and rewarding choice. One that IDC was proudly built upon. Our unwavering commitment to creating sustainable communities for the people has been the key to our continued growth and success.
