Rebirth of Ortigas
Date posted November 28, 2020
Among the business hubs likely to benefit from a pick-up in residential demand is Ortigas Center. —PHOTO BY MJDIAMZON/WIKIPEDIA
Even a business district will need to evolve to remain an attractive location.
And this often happens with the confluence of right factors—from the completion of key public infrastructure projects to boost accessibility, to the creation of bigger and more complete mixed-use complexes that will further transform and modernize the urban lifestyle.
Such is, in fact, happening with Ortigas Center, one of the oldest business districts in Metro Manila. While this dynamic hub has long been a viable location for office, hotel, residential and commercial projects as evident in the number of multinational companies and malls that have flourished here, recent developments and announced plans are poised to further ensure the continued evolution and reinvention of this business hub.
More specifically, geographical connectivity, community integration, accessibility through infrastructure and attractive business costs are amplifying Ortigas Center as an ideal commercial location, according to Colliers International Philippines’ November report titled, “Visions of the Future: The Rebirth of Ortigas.”
Colliers cited in particular the planned and ongoing infrastructure projects that would further enhance connectivity and accessibility of the Ortigas central business district (CBD).
“While Ortigas is already fully conducive right now for business, the planned transportation and accessibility infrastructure in the pipeline will further amplify its attractiveness as a commercial location and a place to work for office employees,” it said in its report.
Colliers pointed out that as it is, Ortigas Center already has “all the basic quality support required making this central business district one of the preferred locations for businesses” as it serves as geographical midpoint of Metro Manila. It is bounded by major thoroughfares like Edsa, Shaw Boulevard and Ortigas Avenue and made accessible by two major transport hubs.
That accessibility will be further amplified with the completion of the BGC-Ortigas Center Link Road Project and the Estrella-Pantaleon bridge (Rockwell Bridge), which are seen to reduce congestion along Edsa and improve the connectivity from Ortigas (Pasig) and Mandaluyong to Makati and Taguig. Add to that the proposed P355-billion Metro Manila Subway Project, a 36-kilometer rail transit line that will have 17 stations across the metro, two of which are in Ortigas.
The Offices at The Galleon
Once completed, the Ortigas central business district will continue to become a major gateway and transit hub—the largest office district that will be directly accessible from two major rail lines in Metro Manila namely the MRT Line 3 and Mega Manila Subway.
Currently, the office property market in Ortigas has been flourishing, given the growth of traditional, outsourcing and gaming sectors over the last decade.
“With a rental growth rate of 5.7 percent, the real estate cost for operations remains competitive. This makes Ortigas a discerning choice for companies looking for a cost-effective location with the full features of a central business district,” it said.
Add the fact that major telco players have launched 5G services in Ortigas, thus providing “a platform for companies to operate but also allows businesses to innovate and expand online. The implications of a technological upgrade to companies is limitless as it enables online access, presence, and services 24/7.”
Companies looking to tap the potential opportunities that may arise in Ortigas Center are fortunate to have a chance to still be part of this thriving, evolving hub.
Rising in the heart of the Ortigas CBD is The Galleon, a premier two-tower development of Ortigas Land which will offer a healthy mix of office, residential and retail spaces.
The Offices at The Galleon, in particular, presents a conducive environment where businesses can thrive. Here, locators are offered premium Grade A office spaces with sustainable, efficient, and environment friendly features. Ortigas Land is, in fact, in the process of securing a LEED (Leadership in Energy and Environmental Design) Silver accreditation from the US Green Building Council (USGBC). As such, these spaces are highly ideal for multinational companies, professional firms (law, architectural, engineering, among others), high-end business owners, and investors looking for upscale properties with high yield locations.
The office tower itself exudes a modern look, with glass exteriors allowing natural light to fill the spaces. Apart from utilizing high quality materials and finishes, other features to be enjoyed by future tenants include the wide open spaces at the amenity level; dedicated, expansive lobbies for office and residential use; dedicated drop-off areas to mitigate traffic; state of the art building management system; LED lights and water saving urinals for energy and water efficiency; double-glazed glass finishes; telecom fiber optic; a fire detection system; 100 percent backup power; 24/7 security, CCTVs and x-rays; and material recovery facilities.
Offices at The Galleon is part of Ortigas Land’s growing office portfolio, which comprises The Glaston Tower and Silver City in Ortigas East, the Ortigas Building and the IBP Tower in Ortigas Center, and the Offices at Estancia in Capitol Commons.
Read more: https://business.inquirer.net/312716/rebirth-of-ortigas#ixzz6f3Qf6Ytb
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