Developer ItalPinas Inc. (ITPI) will soon start the construction of Primavera Residences, a ten-storey condominium project located at Pueblo de Oro Township in Cagayan de Oro City which is expected to be completed in 14 months or by early 2011.
The investment is worth P180 million and will be the first Green Building to be constructed in Asia and in the entire Mindanao.
Based on a press release, ITPI said they did a market survey and they liked Cagayan de Oro because it has higher middle class market not to mention its fast-growing economy.
The condo units are sold lower than P3 million, with designs tailored in Europe, and utilize a special solar panels for renewable energy.
ITPI is targeting the overseas Filipino workers (OFWs) market and the migrants abroad.
ItalPinas is a partnership between an Italian firm and the Constellation Energy Corp. headed by its chairman Jose P. Leviste Jr.