IDC Prime, Inc., a subsidiary of real estate developer Italpinas Development Corp., has partnered with Thai hospitality group Dusit International to develop two new upscale hotels in Northern Mindanao.
IDC Prime signed agreements with Dusit Thani Public Co. Ltd. and Dusit Thani Philippines, Inc. on Monday to establish Dusit Princess Moena in Bukidnon and Dusit Princess Firenze in Cagayan de Oro.
Under the partnership, IDC Prime will be the developer and owner of the projects, while Dusit will provide its brand and expertise in guest experience.
“We are delighted to strengthen our presence in the Philippines with these two remarkable projects,” Dusit International Chief Operating Officer Gilles Cretallaz said in a statement.
“As one of Asia’s fastest-growing economies, the Philippines presents tremendous opportunities, and we look forward to introducing our unique brand of Thai-inspired gracious hospitality to these dynamic and promising desti-nations, delivering lasting value for all stakeholders,” he added.
Expected to open by the last quarter of 2029, the 1.5-hectare Dusit Princess Moena is a mixed-use development that will have an eight-storey green building as well as a grouping of luxury villas.
The property is located at a hilltop site within IDC’s Moena Mountain Estate in Manolo Fortich town and will complement attractions such as Dahilayan Adventure Park and the Del Monte Pineapple plantations.
Also set to open by the last quarter of 2029, the 14-storey Dusit Princess Firenze mixed-use green building will be located within IDC’s Firenze Green Tower project in the Limketkai area.
The property will have commercial, residential, and hotel areas, as well as first-class amenities and parking.
IDC Prime said that both Firenze Green Tower and Moena Mountain Estate are pre-existing joint ventures between IDC as the property developer and the Go family as the original owners of the two sites.
“IDC was founded on our belief in the Philippines’ growth story, particularly in areas such as these, which are already full of energy and have great potential for game-changing growth. Apart from being recognized for their ar-chitecture and sustainability, our projects have all been located in places where they are ahead of the curve and deliver a ‘level-up’ in elegance and quality of experience,” IDC Chief Executive Officer and Chairman Romolo V. Nati said.
“To us, partnering with Dusit for new hotels in Cagayan de Oro and Bukidnon is an extension of this, and we look forward to having these world-class hotel experiences in our new locations,” he added.
Dusit has 301 properties across 18 countries. Dusit-branded hotels in the Philippines include Dusit Thani Manila, Dusit Thani Mactan Cebu Resort, Dusit Thani Residence Davao, dusitD2 Davao, and Dusit Thani Lubi Plantation Re-sort.
On Monday, IDC shares were unchanged at P1.35 per share. — Revin Mikhael D. Ochave
