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Manila Bulletin devider Business devider The Stock Market devider Italpinas expands project portfolio in Palawan, Misamis

Italpinas expands project portfolio in Palawan, Misamis

Published Jun 5, 2025 03:35 pm
Niche real estate firm Italpinas Development Corp. (IDC) is expanding its portfolio in Palawan and Mindanao after securing nine hectares of land under joint venture agreements.
In a disclosure to the Philippine Stock Exchange (PSE), the firm said it has signed a joint venture agreement (JVA) with Ma. Antonieta C. Marcelo to develop a 78,870-square meter (sqm) property into a mixed-use subdivision project in Brgy. Caniguran, Puerto Princesa City.
Italpinas has also sealed a JVA with Arsenio B. Manuta to develop a 9,288 square meter property into a mixed-use condominium project in Brgy. Quezon, Gitagum, Misamis Oriental.
The firm had recently announced plans to expand to Pampanga, Boracay, and Palawan through JVAs with the Co family, a strategic investor which recently acquired a 15-percent stake in the company.
IDC said it has signed five new joint venture agreements with the Co family for the development of innovative real estate projects.
As an environmentally friendly, design-forward real estate developer, the firm has made a name for itself by creating blending contemporary Italian design with the vibrancy of rapidly growing regions of the Philippines.
Three of the five new sites are located in Puerto Princesa, which is both the gateway to Palawan, featuring an international airport, as well as a growing center in itself.
“IDC is unique for its elegant and green architecture. Palawan is one of a kind for its natural beauty and its environmentalist culture. This is a perfect match,” said IDC Chairman and Chief Executive Officer (CEO) Architect Romolo Nati.
Palawan features unique policies and guidelines, including the Palawan Council for Sustainable Development, and the Palawan Sustainable Development Strategy and Action Plan (PSDSAP).
Nati said that, “…as developers, we have brought environmentally responsible design to all our buildings through passive performance and biophilic architecture. Nature and wellbeing have always come first in our developments. We want our design ethos to echo Palawan’s unique values and accentuate its world-famous natural beauty.”
“Tourism creates livelihoods and can transform local economies… As Palawan continues to attract more visitors, IDC intends to participate in the balancing of growth and conservation, which is a crucial and long-term task,” said IDC Preisdent Atty. Jose D. Leviste III.
He added that, “We can do this as real-estate developers by bringing our environmentally sound design ethos to set an example for contemporary development that accentuates Palawan’s combination of natural beauty, and environmental responsibility.”
The first project, Parco Leonardo, located in Mexico, Pampanga, will be a premier residential community featuring lush green spaces and state-of-the-art amenities.
In Boracay, IDC will launch Miramare Residences, a seaside development that will boast stunning views, modern architecture, and a commitment to sustainability.
As a branded condotel and collection of branded residences, it is slated to consist of about 140 apartments and will be developed by IDC Prime, also a subsidiary of IDC.
In Palawan, Verona Princesa will be built by IDC Homes on a 2,000-sqm lot in Bancao-Bancao, Puerto Princesa. With its ideal location close to both sea and airport, this project will be a mixed-use development featuring condominium living and commercial areas and retail spaces.
Verona Puerto, to be built by IDC Homes on a 5,400-sqm lot in Tagburos, Puerto Princesa, will be a mixed-use development featuring retail spaces as well as walk-up condominium homes.
In Tiniguiban, Puerto Princesa, IDC Homes will build Verona Costa Verde which will offer walk-up condominiums across 7,600 square meters. This project will feature the thoughtfully designed living spaces, sustainable building practices, and amenities that have become a hallmark of IDC’s promotion of well-being and environmental stewardship.
In addition, the Co family and IDC entered into a JV last year for the development of a property in Mitra Road, Puerto Princesa.
The development, named Riviera Puerto, will be a premium sustainable residential-leisure development with first-class amenities. It is currently at the design stage.

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