Italpinas promotes sustainable growth in country's property sector
As Manila's overcrowded property market crests in the wake of a booming economy in the Philippines, Italpinas Development Corp paves the way in sustainable real estate development towards the country's next economic frontiers. The dynamic company offers foreign investors a strategic inroad to the country's unrecognised yet hyper-prospective second-tier cities and regions.
"We engage ourselves in secondary cities because we have seen that the big opportunities are now outside Metro Manila," says Romolo Nati, chairman, and an architect originally from Rome. "There are more than 7,000 islands in this country, and hundreds of thriving cities that need sustainable mixed-use development."
Fusing Italian design and Filipino culture, Italpinas creates high-performance properties while protecting the natural environment. Taking inspiration from nature and cultural and social conditions, and integrating this into architectural design, the company brings an unprecedented philosophy to Philippine real estate.
"Environmentally friendly living must not be made expensive," says Jojo Leviste, the company's president. "If a building is designed to perform, then natural elements at its location can deliver results that would otherwise consume energy such as simultaneous cooling, lighting and ventilation."
The company's first project, the Primavera Residences in Cagayan de Oro, attests to this. The building reduces energy consumption and living costs with solar panels, strategic channelling of natural airflow, and shading features that are designed according to the sun's paths at the building's precise latitude. Targeting the country's rising middle class, most of the development's units cost less than US$100,000.
Aiming to expand in Northern Luzon, Batangas and the Visayas, Italpinas is working on its initial public offering in a bid to attract foreign investors interested in the Philippines. "We want to be recognised for staying true to our values and to the passion that moved us from the very beginning," Nati says. "We are proof that a company can do good while still being profitable."
Italpinas Development Corp (ITPI)