DBP lends P440 million to green developer
December 31, 2019 | 12:00am
Photo shows (from left) DBP account officer Jennylyn Encinares, IDC president Jose Leviste III, DBP vice president Jeanne Adamos, IDC chairman and CEO Romolo Nati, and IDC senior vice president Harold Dacumos after the signing of the P440 million loan facility.
MANILA, Philippines — State-run Development Bank of the Philippines has approved up to P440 million to partially fund the new project of Italpinas Development Corp. (IDC).
The loan facility would finance the Citta Bella, the second phase development of the Primavera City green complex to be completed by the first quarter of 2022.
The government financial institution also funded the first phase development or the Citta Verde that is ready for occupancy by the second quarter of 2020.
Primavera City was awarded as the best mixed-used building in the Philippines by the International Property Award Asia contest in 2017/18. The project will be a green building certified by EDGE, a member of the World Bank’s International Finance Corp.
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