Connect with us

Hi, what are you looking for?


Italpinas signs P250-M DBP loan

Real estate developer Italpinas Development Corporation (IDC) said on Friday it signed a deal to get a P250 million new term loan with the Development Bank of the Philippines (DBP) to boost its operating capital.

The listed company in a disclosure on Friday said this would “sustain positive momentum” as its receivables increase and an expected rise in demand.

“This additional term loan will help the Company to further secure its momentum and growth,” IDC Chairman and Chief Executive Officer Romolo Nati said.

IDC posted a 28% increase in net income to P46.74 million as of the third quarter, generating revenue largely through two ongoing residential projects.

The first two phases of IDC’s Primavera City in Cagayan de Oro City were also partially funded by DBP. The Citta Verde twin towers will be ready for occupancy in the first quarter of 2021, while the Citta Bella will be completed in the second quarter of 2022.

The permits for the final phase of the projects are being processed.

IDC is also building the 21-story Miramonti Green Residences in Sto. Tomas, Batangas, although construction has been slowed down by the lockdown.

Shares in Italpinas rose 0.33% to close at P3.05 each. — Jenina P. Ibañez

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



RISING FOOD PRICES pushed inflation to a 14-year high in November, the Philippine Statistics Authority (PSA) said on Tuesday. Preliminary data from the Philippine...


THE WORLD BANK upgraded its growth forecast for the Philippines this year but expects the economy to expand at a weaker pace in 2023...


By Arjay L. Balinbin, Senior Reporter A PROPOSED MEASURE seeks to require National Economic and Development Authority (NEDA) Board approval only for projects worth...


THE MANAGEMENT ASSOCIATION of the Philippines (MAP) is seeking the creation of a public-private sector advisory council for various sectors, in order to improve...


THE HOLIDAYS shouldn’t be used as an excuse to binge-eat, warned a dietitian.  Christmas is just around the corner and with it comes an...


MANILA Electric Co. (Meralco) has secured a certificate of exemption from the Department of Energy (DoE) from the competitive selection process (CSP) for the...

You May Also Like


The minute that any question pops into your head, you can simply ask Google. No longer do we have to pour over books and...


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Browsing history makes referring to sites and pages you’ve visited in the past seamless. It’ll help you recall what page you checked out on...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer:, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.