Ortigas marks 83rd founding anniversary with new project milestones

Date posted January 04, 2016

Opening of the Ortigas & Company's 83rd Anniversary Exhibit at V-Mall, Greenhills Shopping Center. In photo are (from l-r): Mr. Fernando M. Ortigas, Mr. Jimmy Ortigas, Atty. Ignacio R. Ortigas, Doña Begoña B. Ortigas and Mrs. Marga M. Ortigas

 

Manila, Philippines—Premier property developer, Ortigas & Co. celebrates its 83rd founding anniversary this month with new milestones for its residential, commercial, and office projects. The company behind some of the country's most loved destinations such as Greenhills Shopping Center and Tiendesitas continues to build forward with fresh concepts that are transforming the Metro Manila landscape.

 

Ortigas held the first concrete pouring of its 64-storey residential tower at Capitol Commons dubbed The Royalton. It is the first of the five towers to rise in the 10-hectare master-planned development that will revitalize the old site of the Rizal provincial capitol and make it a sanctuary for urban style. Earlier, during Q1, Ortigas made a solid entry into the luxe market with Imperium—the development's second tower—having only four units to a floor, offering only two- and three-bedroom suites with an area of up to 202 square meters.

 

The company also recently signed an agreement with the Integrated Bar of the Philippines (IBP) for the lease of a 1,700-square meter lot for the construction of a 26-storey office tower that is ideal for BPO locators. The IBP Tower will add to the company's office space portfolio, which is now at 29,000 square meters.

 

Viridian—a 53-storey contemporary classical structure being built within the Greenhills complex to make it a complete live, work, and play environment—made a recent showcase of its design concept with the launch of Viridian Café. The showroom café, arguably one of the first in the Metro, stands as an interim feature of the development located at Connecticut Street, near Viridian's grand lobby. It features Viridian's actual ceiling height, interiors, and specialty coffee from Dutch brand Douwe Egberts.

 

Constant reinvention

 

Ortigas' history began as early as 1931 upon its incorporation, with Francisco Ortigas Vicente Madrigal, B.C.M. Johnston, Fulgencio Borromeo, Clyde A. Dewitt, and Manuel L. Quezon as partners.

 

The 4,000-hectare property owned by the party called Hacienda Mandaloyon, which spanned the municipalities of Pasig, Mandaluyong, San Juan, and Quezon City, has since been sold in large tracts or developed to become today's most dynamic cities.

 

“The challenges of the past are very different from today," says Joey Santos, SVP and General Manager of the Real Estate Division.

 

“In the 1970s, Ortigas invested heavily on horizontal developments like Valle Verde, Greenmeadows, and the Greenhills subdivisions. The trend today is vertical—space has become limited and there is greater emphasis on the need for great location and convenience. Filipinos are entering a new age of economic freedom, so more people are buying property. But along with that comes tougher competition. That is the reason why we constantly need to reinvent ourselves. We have to grow with the market and keep up with the trends. So in 2009, we introduced Circulo Verde, a mid-end residential community in Quezon City, followed by Capitol Commons in Pasig," he adds.

 

Building forward

 

In the next quarter, Ortigas is set to launch other developments, including the crown jewel of Capitol Commons called Estancia—with 18,000 square meters of space dedicated to destination retailers and the best of what the fashion, culinary, and entertainment worlds have to offer.

 

Ortigas & Co. remains as one of the most trusted real estate developers in the country with considerable land bank, enough to support continuous development for the next 15 years.


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