A RESIDENTIAL and condominium developer sees brighter prospects as lending institutions showed confidence to finance the construction of its expansion projects.
The Bank of the Philippine Islands (BPI) Family Bank recently granted P180 million green development loan to Italpinas EuroAsian Design and Eco-Development Corporation to partially finance the construction of its Primavera Residences Tower 2.
BPI which advances its Sustainable Energy Finance (SEF) by continuing to support the energy investments of its clients. In collaboration with International Finance Corporation (IFC), the four-year old innovative financing approach funds various efficient and renewable technologies all over the country.
The loan agreement was signed last month at the BPI Head Office by Architect Romolo Nati, Chairman and CEO, and Atty. Jose D. Leviste III, President, in behalf of Italpinas and by Mr. Alfonso L. Salcedo, Jr., Executive Vice President and Group Head, Corporate Banking Division and Mr. Mario B. Palou, Senior Vice President for BPI.
First green building in Oro.
Primavera Residences is the first green building in Cagayan de Oro City which integrated into its design eco-friendly features such as generating part of its electricity with rooftop solar panels and reducing power usage by maximizing natural light and wind ventilation.
Earlier Land Bank of the Philippines was proud to announced it has granted P130 million term loan to Italpinas.
The Primavera Residences Tower 2 will provide 167 residential units to serve young urban professionals, families of Overseas Filipino Workers (OFWs), Balikbayans, expatriates and other buyers.
The Private Financing Advisory Network (PFAN), a multilateral public-private partnership initiated by the Climate Technology Initiative (CTI), noted that Primavera’s design has a remarkable degree of social and environmental stewardship, with a high potential to scale-up an excellent management team and cutting edge technology.
BPI is the third ranked universal bank in the country with over 809 branches (inclusive of 105 kiosks and five branches abroad) and 2,542 automated teller machines (ATMs) which together form Expressnet, the largest combined network of branches/kiosk units and ATMs, servicing the largest number of bank customers, including over one million overseas Filipinos.
Italpinas has been highly commended internationally in the Best Condo Development (Philippines) category by the prestigious South East Asia Property Awards (SEAPA 2011) awards based in Singapore.
Primavera Residences is located at the Pueblo de Oro Business Park in Uptown Cagayan de Oro City within the master-planned 360 hectare Pueblo de Oro Township.
Primavera Residences is a P450-million 10 storey twin-tower condominium designed by award-winning Italian Architect Romolo V. Nati and developed by Italpinas, a Corporate Member of the Philippines Green Building Council.