IDC Prime Inc., a majority-owned subsidiary of Italpinas Development Corporation (IDC), has entered into an unincorporated Joint Venture Agreement with Ralph Martin Go Rafanan, Lauren Trinidad Gotil Go, Kathleen Gale Go Tan, and Kristopher Glenn Tan Go to develop a 15,000-square-meter property located in Dahilayan, Manolo Fortich, Bukidnon. According to a disclosure at the Philippine Stock Exchange, IDC Prime will develop the property into a mixed-use development, while IDC will provide management and technical oversight. During IDC’s 15th anniversary celebration, IDC Chairman and CEO Architect Romolo Nati announced that the project will be called Moena Mountain Estate. The total project cost is estimated at P1.22 billion.
The landowners will be entitled to 20 percent of the number of saleable units, corresponding in value to not less than P75 million. IDC Prime will be entitled to the remaining 80 percent of the saleable units. Below are screenshots of the disclosure.
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