Listed developer Italpinas Development Corp. was recently awarded the Leadership in Sustainability Design Award by the Philippine Green Building Council for its pioneering Primavera Residences project in Uptown Cagayan de Oro, and will represent the country at the coming World Green Building Council Asia Pacific Regional Network Leadership Awards for the same category.
“We are absolutely delighted with this recognition – and with the chance to represent the country in the regional competition,” said Romolo Valentino Nati. chairman and chief executive officer of Italpinas.
Italpinas’ flagship development was recognized for its two eco-friendly strategies: the use of passive green energy, involving an inner courtyard, a cross-ventilation layout and shaded facades; and the use of renewable energy from rooftop solar
photovoltaic panels, to power and light common areas and to afford its residents savings of 20 to 32 percent in airconditioning costs.
The project also embodies principles of biomimcry, an architectural philosophy that is inspired by nature.
Planned by Nati himself, the Primavera Residences’ emphasis on design and sustainability will be a staple of all future developments of Italpinas. The company’s follow-up offering is Primavera City, also in Uptown CDO.
According to Jose Leviste III, Italpinas president, the company is encouraged by the market’s warm welcome of its design-driven approach and focus on sustainability.
The company reported a 142.9 percent increase in net income in 2015, from sales of Primavera Residences units.
It recorded net sales of P216 million for the two-tower condo, a 62-percent increase year-on-year, as of the end of fiscal year 2015.
Eighty-two percent of the 328 units in both towers have been sold, with only six remaining in the first.
Italpinas also announced a return of equity of 22 percent, also as of the end of fiscal year 2015.
Following its initial success in Mindanao, Italpinas said it will continue to pursue projects outside of Metro Manila.
“We see growth in places like Cagayan de Oro,” Leviste said at the company’s recent stockhoders meeting.
He said Italpinas is now looking into Batangas, Davao, Mindoro and Negros.
Article from Malaya