Italpinas Development Corporation (IDC) through its subsidiary IDC Prime, Inc., has entered into another Joint Venture Agreement to develop a 6,790-square meter property owned by Ms. Gilda Go located along Rosario Limketkai Avenue, Barangay Lapasan, Cagayan de Oro City. In a disclosure at the Philippine Stock Exchange, IDC stated the proposed mixed-use development will have an estimated total project cost of Php 1.2 Billion. The Joint Venture Agreement was signed last August 23, 2023.
Here’s a screenshot of the disclosure.
With the size of the property, the project will probably be a mixed-use vertical development.
This latest development comes after IDC also signed a Joint Venture Agreement with Mr. Gonzalo Go Jr. last August 11, 2023 for a 4.3-hectare mixed-use project in Gusa, Cagayan de Oro City. Read our post below.