BOI okays perks for first green building in CDO

MANILA, Philippines - Green energy company Italpinas Euroasian Design and Eco-Development Corp. (ITPI), an Italian-Filipino joint venture, has received project perks from the Board of Investment’s (under the 2012 Investment Priorities Plan (IPP).

The BOI approval is for Tower B, or the second tower of Primavera Residences, the first eco-friendly and self-sustaining condominium in Cagayan de Oro City, the company said yesterday.

 â€œBeing the first green building in Cagayan de Oro is really a great advantage. We are setting the trend here in the most competitive city in the Philippines,” ITPI chairman and chief executive officer Romolo Nati said.

The Italian-designed Primavera Residences is composed of two 10-story towers located in Pueblo de Oro Business Park in uptown Cagayan de Oro City.

Nati, an Italian architect, said the company chose uptown Cagayan de Oro – located 110 meters above sea level -- for its project because of its good urban planning, better air quality and higher land area.

He also highlighted the energy-saving features of the project.

“Unit owners appreciate the natural airflow and light that comes into the building through the inner courtyard. Also, the shaded façades prevent the sunlight from hitting the windows directly, reducing internal unit temperature. All these contribute to the lessening of their electricity use, specifically, the use of air conditioners,” he said.

Jose Leviste III, president of ITPI, said the company has given high importance to the design phase of the project.

 â€œWe give high importance during the design phase of the project so we are able to make use of local materials and know-how during the construction phase, ensuring its quality and affordability,” Leviste said.

The second tower is set to finish construction in 2014 and will have offer 166 residential and commercial units.

On the other hand, the first tower has offer 162 residential and commercial units.