Italpinas Development Corporation (PSE:IDC) agreed to acquire portion of Primavera city lots on March 18, 2016. Pursuant to the terms of the transaction, Italpinas Development paid a reservation fee of PHP 0.1 million and made a down payment of PHP 1 million. Italpinas Development Corporation (PSE:IDC) completed the acquisition of portion of Primavera city lots on June 30, 2016.