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ICCP Group Sees Growth in townships, industrial estates

ICCP Malvar Residential Zone

ICCP Group is seeing continued growth in its property development business through Pueblo de Oro Development Corp. (PDO) and Science Park of the Philippines Inc. (SPPI). ICCP Group Chairman and Chief Executive Officer Guillermo D. Luchangco said both companies have been recording steady sales.

“We don’t have as many projects as Filinvest or Ayala but our sales growth is good and our profit margins are healthy,” Mr. Luchangco told BusinessWorld in an interview at the company’s office in Makati City on Sept. 4.

PDO develops residential communities and township projects and is best known for its flagship project, Pueblo de Oro in Cagayan de Oro.

“In the case of Pueblo de Oro, we have 400 hectares in Cagayan de Oro which we developed into a township. We were able to attract SM to put up its first mall there. We also put up a Robert Trent Jones Jr. golf course, which is ranked as one of the top five golf courses in the Philippines by Golfing Philippines (magazine),” Mr. Luchangco said.

The business activity in the area has spurred demand for residential projects that cater to different market segments. Demand shows no signs of slowing down, prompting PDO to acquire additional property. The township is now home to 9,840 residential units to date.

Mr. Luchangco said the success of Pueblo de Oro Cagayan de Oro has been the catalyst  to develop similar townships in Cebu, Batangas, and Pampanga, albeit at a smaller scale.

“In those areas, we are in the regional centers of the Philippines like Cebu, Sto. Tomas and San Fernando… We intend to expand into other regional centers,” he said.

Even before the popularity of green and sustainable initiatives, PDO has already been implementing eco-friendly initiatives in its projects.

“We’re a mid-sized developer but because of that we are able to pay more attention to our projects, environmental management, give that development more features, to give it some distinction,” Mr. Luchangco said.

The company maintains a 40-hectare urban rainforest in Cagayan de Oro, helped plant 65,000 mangrove seedlings in Mactan, and has regular tree-planting activities as part of its corporate social responsibility (CSR) program.

At present, Pueblo de Oro is developing a 40-ha residential subdivision in Malvar, Batangas. The new property which is part of a “live-work” community concept is located beside Light Industry and Science Park IV, another world-class industrial estate being developed by PDO’s sister company, Science Park of the Philippines, Inc.

Source: BusinessWorld