The Philippine Star

Italpinas breaks ground on Miramonti project

- – Iris Gonzales

Italpinas Developmen­t Corp. (IDC) recently broke ground for Miramonti, a mixed-use green developmen­t in Sto. Tomas, Batangas.

To be developed in two successive phases, the project will consist of three towers, each of them featuring IDC’s characteri­stic Italian aesthetic. It will also utilize architectu­ral features that are environmen­t friendly.

IDC will pour in about P750 million for Phase 1 of the project, with projected gross revenue at P1.2 billion from sales of residentia­l and parking units, excluding recurring lease income from commercial units.

Phase 1 will consist of a 21-storey tower atop a podium structure, to be built at strategica­lly chosen crossroads in Sto. Tomas.

The project will have a mix of residentia­l and commercial components, providing a complete, selfcontai­ned experience for end-users.

Each floor of the residentia­l tower will have studio type units with sizes ranging from 22 to 28 square meters and 1 bedroom unit with size of 44 sqm. Investors will have the option to combine multiple units to create larger multi-room apartments if they choose.

Romolo Nati, chairman and CEO of IDC who helped design the project together with Filipino architects, said Phase 1 is planned for turnover in two years or by 2021.

The project is 45 minutes from Metro Manila, and directly accessible by expressway from Makati, NAIA, Alabang, and Batangas Port.

Miramonti is IDC’s first project in Luzon, after completing and selling out its maiden project, Primavera Residences in Primavera City, in Cagayan de Oro City. IDC anticipate­s that the market for Miramonti will include profession­als and young families, as well as local and expatriate personnel of the various corporatio­ns with headquarte­rs and production centers in the area.

Property management services will be offered, enabling unit owners to profit not only from long term asset appreciati­on, but also from short term recurring rental income, in a hasslefree way.

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