Pueblo de Oro allocates P18B for new projects

Pueblo de Oro allocates P18B for new projects

PUEBLO DE ORO Development Corp. is allocating P18 billion to expand in key locations, including Cagayan de Oro, Batangas, and Cebu.

In a statement, the property development arm of the ICCP Group said it is developing new housing projects as it seeks to capitalize on the “ongoing resurgence” of the real estate market in several regions.

“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,” the company said.

Earlier this year, Pueblo de Oro officials said it was planning to invest P13.5 billion in projects in Cagayan de Oro, including Masterson Mile Towers.

Masterson Mile Towers is a high-end, high-rise condominium project comprising five buildings. The company tapped Gensler and Associates from Singapore, and Casas+Architects for the project.

The company is also set break ground on the 31-hectare Southridge development, which is patterned after  Silicon Valley in California.

The company is also expanding in Batangas with the P1.8-billion Pueblo de Oro Courtyards Lipa and P1.7-billion Pueblo de Oro Westwoods Heights Batangas City. These projects will offer single detached and single attached houses for the middle-income market.

In Cebu province, Pueblo de Oro is earmarking P1.2 billion for PDO Townhomes Carcar. The economic housing community is scheduled to be launched in October 2024.

Pueblo de Oro is the residential development arm of the ICCP Group, which has business interests in financial services and property management.