Pueblo de Oro earmarks  P18-B for Cagayan de Oro, other sites

Pueblo de Oro Development Corporation, the property development arm of the ICCP Group, is positioning to capitalize on the ongoing resurgence of the real estate market. The company is earmarking P18 billion in investments for more housing projects in key locations, including Cagayan de Oro, Batangas, and Cebu.

As these regions undergo economic revitalization and grapple with persistent housing backlog, Pueblo de Oro anticipates a surge in demand for both residential and commercial properties.

Pueblo de Oro officials revealed earlier this year of plans to inject approximately P13.5 billion into groundbreaking initiatives within Cagayan de Oro. Among these ventures is the Masterson Mile Towers, the city’s premier high-end, high-rise condominium project. 

Comprising five buildings spanning 22 to 27 floors, this development marks a milestone for Cagayan de Oro’s real estate landscape. Renowned international architects, Gensler and Associates from Singapore, and Casas+Architects, will bring their expertise into shaping the iconic Masterson Mile Towers.

Additionally, the company plans to break ground on the expansive 31-hectare Southridge development, designed to emulate the innovation and vitality of Silicon Valley in the San Francisco Bay Area.

Beyond Cagayan de Oro, Pueblo de Oro is expanding its footprint in Batangas 90 kilometers south of Metro Manila. Following the success of Pueblo de Oro Townscapes Malvar township, the company ventures into two new projects in Lipa City and Batangas City, with estimated project costs of P1.8 billion and P1.7 billion, respectively. Both Pueblo de Oro Courtyards Lipa and Pueblo de Oro Westwoods Heights Batangas City target the middle-income market, offering single detached and single attached houses. 

In Cebu, Pueblo de Oro is committing P1.2 billion to PDO Townhomes Carcar, an economic housing community slated for launch in October 2024. The townhouse project will be part of a planned integrated township development. 

These investments complement the ongoing capital expenditure budgeted for existing projects at various stages of development and marketing in Pueblo de Oro’s key locations, including Cagayan de Oro, Cebu, Pampanga, and Batangas.