(Source: The Manila Times | 23 August 2016)
Property developer Ortigas & Co. is looking to redevelop its existing mixed-use projects as it reviews its 52-hectare land bank.
In a statement on Monday, Ortigas & Co said it is looking to “unlock” the potentials of the different parcels of its land bank in order to ensure its continuous growth.
The company said it will continue to develop its current projects while also redeveloping existing projects in line
with strengthening its retail and residential strategies.
It said Greenhills Shopping Center is already undergoing a multi-phase and multi-billion peso redevelopment.
“The said redevelopment will see the largely retail-based center mixed with residential, office, and hotel spaces. Viridian, the 53-storey luxury residential condominium at the heart of Greenhills, is set to welcome residents late this year,” the company said.
On the retail front, it said, “A bigger, refurbished Unimart will open to shoppers soon, and a two-level interconnected basement parking will link the whole development, providing even more parking options to shoppers.”
The company is set to build four office towers in the development to be able to cater to companies that are looking for office spaces.
Meanwhile, it said there are several developments underway in its Capitol Commons project, such as three residential towers and a retail component which will feature an entertainment hub.
“It is also set to enrich Ortigas & Co.’s current available gross leasable area for office spaces with four projected buildings,” the company said.
Its Frontera Verde development has also been catering to a number of office locators, it added.
“The continuously growing number of information technology-business process management (IT-BPM) locators in the country is also pushing Ortigas & Co. to further shape Frontera Verde as a choice location for IT-BPM operations in the Ortigas-Pasig area,” it said.
The company said its 10-hectare Circulo Verde development between Quezon City and Pasig City already has four completed residential developments.
“We are keen on maximizing the location of Circulo Verde to make it Ortigas & Co.’s prime residential offer, given the suburban quality of its locale,” said Ortigas and Co president and chief executive officer Jaime Ysmael.
Ysmael said the continued development of projects is in line with the company’s celebration of its 85th year.
“We are proud of the Ortigas & Co. legacy and how it has become a part of Filipinos’ lives for the past 85 years. This is why we want the firm’s future to be a continued story of development, this time stronger, but still anchored on its core values of relationship, excellence, integrity, and innovation,” Ysmael said.
– By Catherine Talavera