Italpinas bets bigger on provinces as sales jump 29.9%

Real estate firm Italpinas Development Corp. (IDC) is ramping up expansion in provincial and other high-growth areas after stronger uptake outside Metro Manila lifted its sales in 2025.

“IDC is projecting continued positive growth in the next year, as the company intends to expand further in multiple new locations throughout the country," the company said Monday. 

"Palawan, Boracay, Bataan and Bukidnon to name a few new locations for major flagship projects of the company, bringing the signature eco-friendly, sustainable and innovative developments to these prime locations,” it added.

According to IDC, positioning itself early in emerging provincial markets has paid off with strong sales from flagship projects.

The company’s latest financial report showed that sales rose 29.9 percent to P784.7 million in 2025 from P604.2 million in 2024, with growth largely driven by ongoing developments in key provincial markets, including Primavera City–Citta Bella in Cagayan de Oro and Miramonti in Sto. Tomas, Batangas.

Subsidiaries IDC Homes and IDC Prime also began recognizing revenues from Verona Green Residences and Primavera City–Citta Grande, respectively.

However, despite higher revenues, net income declined 27.4 percent to P250.9 million from P345.4 million in 2024, as higher interest expenses and lower gains from investment property appraisals weighed on results.

The company said this came even as efforts to scale top-line revenue and gross margin underscored solid operational performance, with non-operational factors, particularly increased interest costs and weaker appraisal gains compared with 2024, which dragged overall net income.

Last year, the company’s total assets rose 3.5 percent to P4.5 billion, while total liabilities declined 3.6 percent to P2.5 billion to strengthen liquidity and reduce reliance on debt.