The Philippine Star
Italpinas breaks ground on Miramonti project
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.