PROPERTY developer Ortigas & Co. has earmarked P50 billion to redevelop a 16-hectare estate, formerly known as Frontera Verde, in Pasig City.
The property, located along C-5 and Julia Vargas in Ortigas, is being renamed as Ortigas East and will be turned into a mixed use estate with residential, retail, and office projects.
“Ortigas East moves us another step closer to our goal of fully realizing the potential of our 52-hectare landbank. We started with Greenhills last year, and now, it’s Ortigas East. We are building this as an eco-efficient, connected community filled with the comforts that will allow people to live and move better inside a well-planned estate,” Ortigas & Co. President and Chief Executive Officer Jaime E. Ysmael said in a statement.
An interim development, Frontera Verde was home to Tiendesitas, SM Hypermart, Transcom Center, and a Shell gas station, among others.
The Ortigas East project will be executed in three phases, with the first phase set to have the initial residential, retail, and office components.
Ortigas & Co. has tapped several partners for the project. International design firm Callison RTKL will develop the master plan, while engineering professional services firm WSP Parsons Brinckerhoff will do traffic analysis. AIT Wind Solutions will conduct wind analysis on the buildings, and land development engineering firm Langan will do seismic analysis.
The company has allotted 40% of the estate’s total space to open parks and spaces, including areas where people can walk and bike, as well as a transport terminal.
“Ortigas East is set to redefine mixed-use developments through advanced planning and design done for the property,” the company said.
Mr. Ysmael said the company will launch a 34-storey office building called The Glaston Tower next month. The company looks to attract both local and multinational business through this project.
Prior to the launch of Ortigas East, the company has also unveiled plans to redevelop the Greenhills shopping district for P60 billion. The firm has so far introduced a luxury residential tower called The Connor.
Ortigas & Co. is likewise developing a mall and office component within the Greenhills district, which will contribute around 100,000 square meters of leasable space into the district.
Frontera Verde and the Greenhills Shopping Center are among the parcels of land the company has committed to redevelop over the following years. Also included in its master plan is the 10-hectare Capital Commons in Pasig City and the 12-hectare Circulo Verde. — Arra B. Francia
