Italpinas Development Corp. said its board has authorized its subsidiary, IDC Homes Inc., to enter into two joint property development projects in Palawan and Misamis Oriental.
Financial details of the joint property development deals were not disclosed by Italpinas.
IDC Homes will soon sign a joint venture deal with Ma. Antonieta C. Marcelo for the development of a 78,87-square-meter property into mixed-use subdivisions in Puerto Princesa City.
In a separate deal, IDC Homes will join Arsenio B. Manuta in the development of a 9,288-square-meter property into a mixed-use condominium project in Gitagum, Misamis Oriental.
Italpinas is engaged in real estate development, with the Primavera Residences, a twin-tower 10-storey mixed-use condominium in Pueblo de Oro Township in Cagayan de Oro City, as its first project. Aside from IDC Homes, Italpinas also counts as its subsidiary, IDC Prime Inc, while renewable energy company Constellation Energy Corp; is an affiliate.
