Investment & Capital Corp. of the Philippines (ICCP) has secured a P1.25 billion in loan financing from two banks to finance the expansion of its key property projects including Pueblo de Oro in Cagayan de Oro City. Per news reports, Pueblo de Oro has signed seven-year term loan agreements worth P500 million each with the Philippine Bank of Communications (PBCOM) and the Bank of the Philippine Islands (BPI), which also provided a P250-million short-term working capital line.
It can be recalled that during a signing ceremony between the ICCP and the National Development Corp. (NDC), last October 19, 2024, it was announced that Pueblo de Oro will be constructing a luxurious condominium project, along with the 31-hectare Southridge mixed-use development, envisioned as a ‘Silicon Valley’-style hub in Cagayan de Oro. Southridge will also feature the World Trade Center, positioning the city as a prime venue for global exhibitions.
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