Italpinas Development Corp., the listed green developer, is looking to expand in the horizontal residential market following the success of its projects in Batangas and Cagayan de Oro.
“We are working on new projects to be developed in new locations. Some of these will be in the horizontal market where we will introduce a totally new concept,” said Romolo Nati, IDC chairman and CEO.
The new projects will display green features and unique architectural solutions at accessible prices, said the Italian architect behind IDC.
“We are ready to ‘disrupt’ the housing horizontal market as we have already done in the condominium sector. We are very excited about this new horizontal venture,” Nati said.
IDC has been widely recognized as an innovative real-estate and design company.
“We broke stereotypes and brought a fresh air in a quite ‘static’ business, the real estate industry. Our capability to deliver eco-friendly buildings with unique design aesthetics in emerging locations at accessible prices has been recognized and rewarded by the market,” Nati said.
He said IDC’s success proves the potential of alternative locations .
“We anticipated the trend of greater growth outside Metro Manila and Metro Cebu. I think that these are some of the reasons behind IDC exceptional performances,” he said.
IDC posted a net income of P35 million in the first half of the year, up 45 percent from P24 million a year ago.
This was on the back of strong sales of P278 million from P204 million a year ago, up 36 percent.
The company’s resources grew four percent to P 1.9 million compared to P1.8 million a year ago.
Nati attributed the company’s strong performance to sustained positive market response to IDC’s new green projects, namely Miramonti in Sto. Tomas, Batangas and Primavera City (Phase 2) in Cagayan de Oro.
“During the lockdown, people understood more than ever how important it is to live in a comfortable and sustainable environment that can offer easy and direct access to open spaces, such a terraces and gardens, where unit owners can enjoy fresh air, exposure to natural sunlight and constant natural airflow,” Nati said.
He said it has been proven that being exposed to those natural elements can help provide a healthy and comfortable living style, but also to counteract the spread of the virus, which is now known to spread more easily in environments where ventilation is poor or highly air-conditioned.
With its unique value proposition of providing eco-friendly developments at competitive price points, IDC indeed offers a breath of fresh air in the property industry.