IDC Prime Inc. Secured a P630 Million from BPI

Italpinas Development Corporation's (IDC) majority-owned subsidiary IDC Prime Inc. secured a development loan in the amount of P630 Million from Bank of the Philippine Islands (BPI) for its maiden project, Primavera City Phase III, otherwise to be known as Citta Grande. IDC agreed to act as surety for the loan. The loan documents and surety agreement were signed last September 4, 2024.

IDC™ Prime is the upscale, green real estate development arm of Italpinas Development Corporation. 

Italpinas Development Corporation (IDC™), is a publicly listed real estate developer of sustainable property in the Philippines. As a forward-thinking parent company, IDC™ is committed to fostering a culture of sustainability within its real estate development endeavors. By strategically guiding its subsidiaries, IDC™ prioritizes the development of eco-friendly and energy-efficient buildings.

IDC's primary purpose is to engage in the business of real estate development using knowledge in architectural design, market and demographic strategy, project development, and sales. The Company's first development project is the Primavera Residences, a twin-tower 10-storey mixed-use condominium in Pueblo de Oro Township in Cagayan de Oro City. IDC's project pipeline presently includes the Primavera City in Cagayan de Oro City, and the Miramonti, a mixed-use development project in Sto. Tomas, Batangas.
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The 172-year-old Bank of the Philippine Islands is the first bank in both the Philippines and Southeast Asia. BPI is licensed as a universal bank by the Bangko Sentral ng Pilipinas to provide a diverse range of financial services: deposit taking and cash management, payments, lending and leasing, wealth management, bancassurance, investment banking, securities brokerage, foreign exchange, and treasury. BPI has investment-grade ratings of BBB+ (S&P), Baa2 (Moody’s), BBB (Capital Intelligence), and BBB- (Fitch).