Ortigas lays out P50-B plan to redevelop new township
Ortigas & Co., the property developer of several residential enclaves and commercial estates in Ortigas, is pouring in P50 billion for Ortigas East, its newest prime development.
Formerly called Frontera Verde, Ortigas East will be developed into a fully integrated mixed-use property designed to bring connected living through accessibility, world-class infrastructure and eco-efficient facilities, Ortigas & Co. president and chief executive officer Jaime Ysmael said in a briefing yesterday.
The 16-hectare development is located along C-5, Ortigas, and Julia Vargas and is being positioned as the most accessible urban neighborhood.
The P50-billion redevelopment, which commenced at the start of the year, will be done in three phases.
Initially, the company is investing P18 billion to launch new office, residential, and retail components.
The first phase involves the construction of the Glaston Tower, a 34-storey office building that will be the very first office tower for sale by the company.
The Glaston Tower will consist of 25 office floors with food and retail establishments on the first few levels of the building. There will be eight levels of podium parking space and two levels for basement parking. Unit sizes start at 76.88 square meters to 141.88 sqm, with prices ranging from P13.5 million to P29 million.
Ysmael said Ortigas East is designed to bring connected living in a progressive urban neighborhood.
“Complemented by an improved road network and transportation access, Ortigas East is going to be metro east’s prime residential, business, lifestyle and entertainment hub,” Ysmael said.
Ortigas & Co. worked with Callison RTKL for master planning and Langan for seismic analysis. The company also harnessed the expertise of Meralco, Manila Water, and DCCD Engineering to further prepare and enhance the features of the property.
Ortigas East is allotting 40 percent of the total property for open space which will be devoted to parks and roads.
There will also be road network improvements and a regional mall with 104,000 sqm of gross leasable area.
There will also be global anchors like Decathlon, the world’s biggest sports retailer.
“Ortigas East is another showcase of our firm’s commitment to building places that enhance people’s lives. It also reaffirms our adherence to top quality,” Ysmael said.