BIZ BUZZ: Italpinas names new chief
Italpinas Development Corp. (IDC) has a new chief as it seeks boutique living bloom beyond the capital region.
Giuseppe Garofalo will lead the listed boutique developer’s dream to cash in on the rising demand for real estate projects in provincial areas.
He will succeed Romolo Nati, IDC’s co-founder who will continue to serve as the chair of the board and the chief of the design office.
The outgoing CEO said naming a new leader was necessary as the group’s growth vision needs “execution capability more than ever.”
Garofalo has been in the firm’s leadership team, serving as chief operating officer.
“IDC’s success is built on a unique blend of sustainability, innovation, and teamwork,” he said.
“I look forward to leading our talented team as we continue to grow responsibly, create value for our shareholders, for the environment and for the communities and deliver thoughtfully designed certified green developments to our clients,” Garofalo added.
Backing its goal of launching a stronger footprint in the property market, Italpinas had vacated the energy sector through the divestment of its minority stake in Constellation Energy Corp.
It also secured joint venture agreements for several real estate developments in Palawan and Mindanao.
