Primavera City beckons rise of Uptown CdO as next business, residential hub

Think of a location that is just a stone’s throw away from vital facilities and amenities, flood- and pollution-free, and with the potential to be the next business hub of a city—this is where the Primavera City is.

Situated at Uptown Cagayan de Oro City (CdO), this groundbreaking project of Italpinas Development Corp. (IDC) has been getting good reviews from property experts, not just because of its eco-friendly features, but also due to its prime location.

“One of the goals of IDC since its birth is to be a catalyst of growth and sustainable development in the country’s emerging cities. This is why we choose our locations carefully; we want to put our unit buyers and investors at the heart of the next center of development in a city. That vision is exemplified in the Primavera City,” said IDC Chairman and COO Romolo Valentino Nati, an Italian architect. Consider this: Primavera City is in a master-planned community 110 meters above sea level, within a preserved rainforest, and in the middle of major establishments in the uptown area, such as SM CdO Mall, Xavier University-Ateneo de Cagayan, the world-class Pueblo de Oro Gold Course, Manresa Farm, regional offices of departments of Education, Interior and Local Government, and Social Welfare and Development, hotels and banks.

“Our property is in the area where major developments are ongoing or headed, such as government offices, BPOs [business-process outsourcing], regional bank offices, hospitals, Xavier University’s world-class sports complex, and the construction of a major road leading to Bukidnon, and another to Laguindingan from the uptown area of Cagayan de Oro,” IDC President Jose D. Leviste III said.

Leviste, a lawyer, stressed Primavera City is perfect for both first-time home buyers and investors, as it is now being trumpeted by business organizations as a premium location.

For business locators, the Primavera property is an accredited site of the Philippine Economic Zone Authority (Peza). This means they can enjoy fiscal and nonfiscal incentives given by the government through the Peza, including up to eight years of income-tax holidays and the option to pay the lower 5-percent income tax in lieu of all national and local taxes, plus the hiring of foreign nationals, among others.

Located at the Pueblo de Oro Business Park, Upper Carmen, Cagayan de Oro (near SM City Cagayan de Oro), Phase 1 of the project entails an investment of about P653 million for two towers.  When fully completed, Primavera City is planned to consist of seven green buildings, including a high-rise tower.

The two integrated multifunctional buildings (commercial, office and residential) with 11 floors each of Primavera City Phase 1—set to be launched in the second quarter of the year—are designed to have 337 units, 57 of them commercial units; 231 are studio type; 22 are one-bedroom units, and 27 are two-bedroom units; and around 100 parking slots in the basement. Their average sizes are 50 to 60 square meters (sq m) for commercial units, 28 sq m for studio-type units, 47 sq m for the single-bedroom units and 70 sq m for the two-bedroom units.

Uptown CdO is only 45 minutes away from Laguindingan Airport. There are residential establishments in the area, including the Xavier estates and Pueblo de Oro Township. It is a traffic-free and secure location, with police and fire stations within the area. It is a preferred location of the expat community.

“CdO is the place to be right now down South. It ranked as the second in the next wave cities of the Philippines according to the Department of Science and Technology-Information and Communications Technology Office; third in the select group of 10 in the Fastest Growing Cities in the Visayas and Mindanao area; and the second on the list of 10 Most Livable Cities in Mindanao,” Nati emphasized.

 

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