Solar-powered condos in CDO draw Italian investors

By BenCyrus G. Ellorin | Wednesday| January 5, 2011

CAGAYAN DE ORO CITY (MindaNews/04 January) – A posh condominium project which will be partly powered by solar energy and “green architecture” in uptown Cagayan de Oro City has attracted Italian investors.

Designed by Italian architect Romolo Nati, the 10-storey Primavera Condominiums which will have 138 residential units is designed to be energy-efficient.

Nati who is also President of the Fil-Italian company ItalPinas said that Italian expatriates have recently invested in the project and have pledged to promote it in Italy to attract more investments.

Italian lawyer Francisco Consalvi and journalist Christian Marre have invested in three residential units and one commercial unit in the Primavera project.

The two Italian expatriates told reporters Monday evening that they found the Primavera project very interesting for its “green” features, its proximity to major tourism destinations like whitewater rafting and diving, and the fast growth rate of Northern Mindanao.

Consalvi said they would launch an investment campaign when they go back to Italy for Italians to invest in the Primavera project.

“Real estate investment in Europe is not very good at this time and this is a good opportunity to bring in some investments here,” he said.

Primavera is located in Pueblo de Oro, an uptown commercial and residential complex in the city.

Nati said that they expect to sell 40 Primavera units at the end of this month and once 60 percent of the units are pre-sold, construction of the second Primavera building will start.

The solar panels to be installed on the building’s 1,200-square meter rooftop will generate at least 150 kilowatts of renewable energy.

Based on the green design of the building, the energy consumption per square meter would be 152.1 kilowatt-hour/ year, which is 32 percent below the current average of 244.4kwh/year.

Nati, however, said that while they can make the building green in as far as power consumption is concerned, it can only be truly green if the occupants themselves would live green.

“But as it is, we thought that the use of air conditioning and other cooling systems which can take up to 60 percent of the energy consumption of building, should be reduced,” he said.

Pueblo de Oro has started selling condominium units at Primavera at prices ranging from P1.1 million to P3 million. Condominium sizes range from 24 square meters to 52 square meters. (BenCyrus G. Ellorin/MindaNews)