By JOEL C. ESCOL, Managing Editor
IDC Prime Inc., a majority-owned subsidiary of Italpinas Development Corporation (IDC), has secured a significant Php630 million development loan from the Bank of the Philippine Islands (BPI) to fund its Primavera City Phase III Project, also known as Citta Grande. The loan agreement was formalized on September 4, 2024, with the signing of documents by key representatives from both organizations. The signatories included IDC’s Executive Chairman and CEO, Architect Romolo V. Nati, IDC President Atty. Jojo Leviste III, BPI Executive Vice President and Head of Institutional Banking Juan Carlos Syquia, and Senior Vice President and Group Head of Commercial Banking Luis E. Cruz.
Citta Grande, a 12-storey mixed-use development located along PN Roa Sr Avenue in Uptown Cagayan de Oro, represents IDC’s first venture into the realm of home automation. This project is a pivotal part of IDC’s broader strategy to integrate advanced technologies with sustainable building practices, catering to the modern needs of urban residents. Citta Grande aims to enhance the living experience through smart home features that include automated lighting, climate control, and security systems, setting a new benchmark for residential developments in the area.
A Strategic Investment in Innovation and Sustainability
IDC’s commitment to sustainable development and innovative solutions is at the core of its business strategy. The loan from BPI will enable IDC to advance its vision of creating green, technology-driven real estate projects that appeal to environmentally conscious buyers. Citta Grande is designed to embody IDC’s signature eco-friendly approach, which includes the use of energy-efficient materials and design techniques that reduce the overall carbon footprint of the building.
The decision to incorporate home automation into Citta Grande is a response to the growing demand for smart living solutions among urban homeowners. By integrating these technologies, IDC aims to provide a higher standard of living that prioritizes comfort, convenience, and energy efficiency. This focus on home automation also aligns with global trends in real estate, where smart homes are becoming increasingly popular due to their ability to offer personalized and responsive living environments.
Financial Backing Reflects Confidence in IDC’s Vision
The Php630 million loan from BPI not only provides the financial support needed for the Citta Grande project but also reflects BPI’s confidence in IDC’s vision and its ability to deliver high-quality, sustainable developments. BPI’s support is particularly significant as it underscores the bank’s commitment to backing projects that contribute positively to urban development and environmental sustainability.
Citta Grande is poised to make a substantial impact on the real estate landscape of Cagayan de Oro. The project’s strategic location in Uptown Cagayan de Oro places it in a prime area of growth, catering to a market that values both modern amenities and sustainable living options. As Cagayan de Oro continues to evolve as a key economic hub in Mindanao, developments like Citta Grande are expected to play a crucial role in shaping the city’s urban future.
A Milestone for IDC and the Future of Real Estate in Cagayan de Oro
For IDC, Citta Grande is more than just a new development—it represents a milestone in the company’s journey towards becoming a leader in green and smart building technologies in the Philippines. By successfully securing the loan from BPI, IDC is well-positioned to bring its innovative vision to life, offering a new standard of living that combines sustainability with cutting-edge technology.
As IDC moves forward with the Citta Grande project, it continues to set an example for how real estate developers can balance growth with environmental responsibility. With projects like Citta Grande, IDC is not only contributing to the local economy but also paving the way for a more sustainable and technologically advanced future in Philippine real estate.
Italpinas Development Corporation (IDC) held a groundbreaking ceremony on July 1, 2023, for Phase 3 of its Primavera City project, named Citta Grande, located along PN Roa Sr Avenue (Macapagal Drive) in Uptown Cagayan de Oro. The 12-storey Citta Grande marks IDC’s first foray into home automation, featuring advanced smart home technologies aimed at enhancing convenience, comfort, and energy efficiency for residents.
This development follows closely on the heels of Citta Bella (Phase 2), which topped off in April and is now in its final stages of construction. Citta Grande is part of IDC’s continued commitment to sustainable and innovative real estate solutions, combining modern architectural design with environmentally friendly features. The project aims to set a new standard for urban living in Cagayan de Oro, offering a blend of technology and sustainability that aligns with the evolving needs of today’s homeowners. As construction progresses, Citta Grande is expected to play a significant role in enhancing the city’s urban landscape and providing modern living options in the growing Uptown area. ###
