Publicly listed property firm Italpinas Development Corporation (IDC) welcomes the draft of the Philippine Development Plan, released recently by the National Economic Development Authority (NEDA) Director-General Ernesto Pernia, and said it fully supports the government’s aim to establish Metro Cagayan de Oro (CDO) as the country’s fourth economic center, alongside Metro Manila, Metro Cebu and Metro Davao, by 2025.
According to Italpinas, which invested heavily in CDO when it broke ground on its flagship project Primavera Residences there in 2009, the city is the cornerstone of the fast-growing Northern Mindanao region, and rightly deserves to be recognized as a metropolis and an economic center.
Building on its faith in the bustling city and its surrounding areas, Italpinas last year launched a more ambitious follow-up: a seven-building mixed-use development, Primavera City.
Both Primavera projects flank SM City in the emergent Pueblo de Oro Township of the Uptown section of CDO, now made more accessible by a road network reaching the provinces of Bukidnon, Lanao del Norte and Misamis Oriental.
“You can feel the energy in this part of the country: this market definitely has the sophisticated tastes of a metropolis – and the capacity to enjoy it,” says Italian architect Romolo Valentino Nati, Chairman and CEO of Italpinas.
Atty. Jose D. Leviste III, IDC President, is himself behind the NEDA roadmap: “Clearly, the time of Northern Mindanao has come; and establishing its strategic gateway and center, Cagayan de Oro, as Metro CDO, will definitely help bring in the attention and investment that the region deserves.”
Apart from Cagayan de Oro, the Northern Mindanao region comprises the provinces of Bukidnon, Lanao del Norte, Misamis Oriental, Misamis Occidental and Camiguin.
Both Nati and Leviste believe that the success of IDC itself is a testament to the readiness of Northern Mindanao for Metro CDO. Certified as a green building by the World Bank initiative Excellence in Design for Greater Efficiency (EDGE) and powered to an extent by solar technology installed in consultation with the partly IDC-owned Constellation Energy, IDC’s Primavera Residences was positioned as a product of sustainable architecture – a first in the region, and a marked departure from the mass market offerings mostly available then. With brisk sales for its twin-tower project recorded, IDC has first-hand knowledge that Northern Mindanao is indeed ready.