IDC’s Citta Grande gets financing from BPI

MANILA, Philippines — IDC Prime Inc. and Ayala-led Bank of Philippine Islands (BPI) signed last Sept. 4 an enabling loan agreement for the development of Primavera City Phase 3 project called the “Citta Grande” in Cagayan de Oro City.

The signing ceremony took place at the new BPI office at Ayala Triangle Gardens Tower 2. Representing BPI were Juan Carlos Syquia, executive vice president/head of Institutional Banking and Luis Cruz, senior vice president/group head of commercial banking.

On behalf of IDC Prime Inc., the signatories to the term loan were architect Romolo Nati, executive chairman and CEO, and lawyer Jose Leviste III, president.

Witnessing the historic signing were BPI’s Jeanette Garcia, senior vice president; Jose Jimenez, vice president; and Martin Arciaga, relationship manager; as well as Harold Dacumos, IDC senior vice president.

IDC Prime is a wholly owned subsidiary of Italpinas Development Corp. established on Aug. 19, 2019.

To serve a specific market segment, IDC Prime focuses in designing and developing EDGE certified green buildings for the open market. In terms of projects, the company is responsible for the overall planning, development, construction, sales and marketing of Primavera City Phases 3.

Located in Upper Carmen CDO at the Pueblo de Oro Business Park and contiguous to SM City Mall, Citta Grande is an integral part of the Primavera City Complex, the multi-awarded sustainable development project consisting of six 11-story buildings that were designed as a mixed-use sustainable and eco-friendly edifice.