Posted on May 11, 2011 07:59:28 PM [ BusinessWorld Online ]
CAGAYAN DE ORO CITY -- It’s all systems go for Northern Mindanao’s first ever 10-storey eco-friendly condominium, dubbed Primavera Residences, with construction slated to start this week.
“We’ve just attained three significant milestones these past few weeks which will enable us to proceed with the full blast construction of the Primavera Residences,” said Romulo V. Nati, president and chief executive officer of Euroasian Design & Eco-Development Corp. (Italpinas).
Mr. Nati said Primavera will also be the first green building complex in Mindanao designed with eco-friendly features such as solar power panels, optimized power usage, and maximized natural lighting and ventilation that can save up to 20% of the buildings energy consumption.
The pioneering design was executed by Italian architectural firm ITA Project, an Italian company with an established track record in “green” and sustainable architecture and design.
ITA Project, led by Mr. Nati as chief architect, was recently recognized with a “Special Energy Award” in the 2011 Design Against the Elements global architectural design competition supported by National Geographic and co-sponsored by the United Architects of the Philippines, MyShelter Foundation, San Miguel Corp., Philippine White Helmets and the Climate Change Commission.
Mr. Nati said many of the eco-friendly features of his Energy-Award winning design have previously been incorporated into Primavera Residences.
Last March 28, Italpinas reportedly signed a P130-million term loan with the Land Bank of the Philippines (Landbank) to partially finance the construction of Phase 1 of the project. The P200-million Primavera Residences is said to have 18,000 square meters (sq. m.) with mixed residential and commercial units divided into two phases.
Following the Landbank contract signing, Italpinas contracted Prompt Managers & Construction Services, Inc. as its construction manager on April 29.
Next, AVP Trading & Construction, a triple AAA-certified contractor was signed on as the lead contractor for the project last May 3. Arsenio B. Manuta, vice-president for operations of AVP, said the firm is currently also engaged in constructing all but two of the vertical structures for the P7-billion Laguindingan Airport in Misamis Oriental.
“The first floor is conceived to have about 750 sq. m. of commercial space, while the second floor would be let out as offices. 160 units of one-bedroom, two-bedroom and studio type residential condominium units will be located from the 3rd to the 10th,” Voltaire Antonio M. Flores, Pueblo de Oro Development Corp. product manager, said.
One tower is expected to be completed by mid-2012 while another tower should be finished by July 2013, the officials said. -- Michael D. Baños
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