SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)

Aug 8, 2023

2. SEC Identification Number

CS200900917

3. BIR Tax Identification No.

007213353000

4. Exact name of issuer as specified in its charter

ITALPINAS DEVELOPMENT CORPORATION

5. Province, country or other jurisdiction of incorporation

Metro Manila, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

Unit 28C BPI Philamlife Building, 6811 Ayala Avenue, Makati City Postal Code 1227

8. Issuer's telephone number, including area code

(632) 88930328

9. Former name or former address, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common	629,568,795

11. Indicate the item numbers reported herein

Item No. 9 - Other Events

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Italpinas Development CorporationIDC

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure
Signing of Serviced Residence Management Agreement and Technical Advisory Agreement with Scotts Philippines, Inc.
Background/Description of the Disclosure
IDC has designated its majority-owned subsidiary, IDC Prime, Inc., as the developer of Phases 3 and 4 of IDC's Primavera City project in Cagayan de Oro City, and Phase 2 of its Miramonti Project in Sto. Tomas, Batangas. This arrangement will enable IDC to concentrate on strategic decisions while leaving operational decisions to the subsidiary. On August 4, 2023, IDC Prime signed a Serviced Residence Management Agreement and Technical Advisory Agreement with Scotts Philippines, Inc., which is the Philippine subsidiary of Ascott, the world’s largest international serviced residence operator. Scotts Philippines manages the Ascott, Citadines and Somerset hotels and serviced residences in the Philippines, and will operate Primavera City Phase 4 and Miramonti Phase 2 under the Citadines brand. The collaboration with Scotts Philippines is expected to boost the sales of the completed phases which were developed by IDC, and at the same time generate pre-selling revenue for the new phases to be developed by IDC Prime. More than revenue, however, the collaboration attests to the world class quality of IDC projects.
Other Relevant Information
N/A