PUEBLO DE ORO Development Corp., the property arm of the ICCP Group, has launched the third phase of its residential project in Batangas province in partnership with the Philippine subsidiary of Japanese developer Takamatsu Corp., following reported strong sales in the township's earlier phases.

In a statement issued on Tuesday, the company said the new phase, Pueblo de Oro Residences Malvar III, will consist of 192 house-and-lot units within the 42-hectare PDO Townscapes Malvar mixed-use development. Nearly 95% of the units in the earlier phases have been sold, according to the developer.

The expansion builds on an earlier residential project undertaken jointly by Pueblo de Oro and Takamatsu Philippine Corp. (TPC), the local subsidiary of Japan's Takamatsu Corp. The continuing collaboration gives the Japanese developer a sustained presence in the middle-income housing segment around Metro Manila, a market its Philippine unit has said it intends to keep serving.

“By integrating residential options with employment opportunities, educational institutions, commercial facilities and open spaces, we aim to create sustainable communities that support residents' everyday needs while delivering lasting value to homeowners and the surrounding area,” said Pueblo de Oro President and Chief Operating Officer Prim B. Nolido.

TPC President Hitoshi Takatsuru said his company intends to continue developing residential projects for middle-income buyers in areas surrounding Metro Manila.

“The company plans to continue participating in residential development projects targeting the middle-income market in areas surrounding Metro Manila,” he said.

Mr. Takatsuru added that demand for housing near major road networks is expected to increase as infrastructure projects become operational in the coming years.

Pueblo de Oro Residences Malvar III will offer two-bedroom townhouses with floor areas ranging from 48 square meters to 54 square meters and lot areas of 40 square meters to 65 square meters.

PDO Townscapes Malvar is located along San Isidro-Bulihan Road in Barangay Bulihan, Malvar, Batangas, near the Southern Tagalog Arterial Road Tollway. The developer expects the township to benefit from the planned South Luzon Expressway Toll Road 4 project.

The development also adjoins Light Industry & Science Park IV, an industrial estate developed by Science Park of the Philippines, Inc. That adjacency places an employment hub next to the housing stock, in line with the integrated community model Mr. Nolido described.

Ahead, the markers to watch include take-up of the 192 new units and progress on the planned SLEX Toll Road 4, along with the pace of infrastructure delivery that Mr. Takatsuru expects to lift housing demand near major road networks.

— Juliana Chloe A. Gonzales, BusinessWorld Online