Philippine Daily Inquirer

P26B EAR­MARKED FOR CAPI­TOL COM­MONS EX­PAN­SION

- By Doris Dum­lao-Abadilla @Philbizwat­cher Business · Pasig · Ortigas Center · Bonifacio Global City · Manila · Rizal

Prop­erty de­vel­oper Or­ti­gas & Co. has ear­marked P26 bil­lion to ex­pand the re­tail, of­fice and res­i­den­tial of­fer­ing of its 10-hectare prime mixed-use es­tate, Capi­tol Com­mons, in Pasig City.

Be­yond the con­struc­tion of Capi­tol Com­mons’ three res­i­den­tial tow­ers—Roy­al­ton, Im­perium\and Maven—Or­ti­gas is ex­pand­ing the Es­tan­cia mall to com­ple­ment the ex­ist­ing wing of this “pres­tige mall” con­cept.

The mall ex­pan­sion pro­gram will add a floor area of 76,000 square me­ters, giving way to state-of-the-art cin­e­mas, restau­rants, global life­style brands and a de­part­ment store of re­tail gi­ant SM. Some 11,000 sqm in floor area will be al­lot­ted to of­fice space.

“Capi­tol Com­mons is one of our key fully in­te­grated de­vel­op­ments in the Or­ti­gas cen­tral busi­ness dis­trict. It is an en­clave po­si­tioned as mod­ern and global, and we are fully com­mit­ted to un­lock­ing its value. Weare poised to com­plete our res­i­den­tial tow­ers in the next three years and next year, we are go­ing to un­veil the Es­tan­cia Ex­ten­sion to add to the fea­tures of the prop­erty,” Or­ti­gas pres­i­dent and CEO Jaime Ys- mael yes­ter­day said in a state­ment.

Or­ti­gas sees Capi­tol Com­mons—which pre­vi­ously housed the Rizal pro­vin­cial capi­tol—be­com­ing an in­creas­ingly valu­able in­vest­ment as it gains more ac­ces­si­bil­ity through the gov­ern­ment’s in­fra­struc­ture projects.

The P1.6-bil­lion BGC-Or­ti­gas Cen­ter Link Road Project will con­nect Capi­tol Com­mons and the rest of the Or­ti­gas cen­tral busi­ness dis­trict with Boni­fa­cio Global City. Capi­tol Com­mons will also host the Or­ti­gas South sta­tion of the P227-bil­lion Mega Manila Sub­way Project.

To date, Capi­tol Com­mons’ of­fice spa­ces serve as head­quar­ters to var­i­ous multi­na­tional com­pa­nies. It also has a stand­alone food strip called Gas­tro and a su­per­mar­ket, Un­i­mart.

Res­i­den­tial tower, Im­perium, will be topped off in Septem­ber and turned over to home buy­ers by 2020, while Roy­al­ton will be turned over next year.

Ear­lier this year, Or­ti­gas an­nounced its P50-bil­lion re­de­vel­op­ment of Or­ti­gas East. More re­cently, the firm broke ground on The Glas­ton Tower, its first of­fice tower for sale, as well as its new in­te­grated re­gional mall in Green­hills.

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