Pueblo de Oro earmarks P18-B projects

More than P18 billion worth of investments was allotted by the Pueblo De Oro Development Corporation — the property development arm of the Luchangco-led ICCP Group — for more housing projects in key locations in the country, including Cagayan de Oro, Batangas and Cebu.

In a statement on Friday, Pueblo De Oro said the investments were decided as they strategically positioned themselves to capitalize on the ongoing resurgence of the real estate market.

"As these regions undergo economic revitalization and grapple with the persistent housing backlog, Pueblo de Oro anticipates a surge in demand for both residential and commercial properties. The company's foresight aligns with its dedication to meeting the evolving needs of the market," said the statement.

Earlier this year, Pueblo de Oro officials revealed their plans to inject approximately P13.5 billion into groundbreaking initiatives within Cagayan de Oro, including the introduction of Masterson Mile Towers, the city's premier
high-end, high-rise condominium project.

Comprising five buildings spanning 22 to 27 floors, the development marks a significant milestone for Cagayan de Oro's real estate landscape. Renowned international architects Gensler and Associates from Singapore and Casas+Architects will bring their expertise into shaping the iconic Masterson Mile Towers.

Additionally, the company plans to break ground on the expansive 31-hectare Southridge development designed to emulate the innovation and vitality of Silicon Valley in the San Francisco Bay Area.

Beyond Cagayan de Oro, Pueblo de Oro is expanding its footprint in Batangas, strategically positioning itself 90 kilometers south of Metro Manila.

In the province of Cebu, Pueblo de Oro is committing P1.2 billion to PDO Townhomes Carcar, an economic housing community slated for launch in October 2024. The townhouse project will be part of a planned integrated township development.