Premier property developer Ortigas & Company is pouring P26 billion to the continued development of Capitol Commons, its prime estate in Pasig City. The outlay is set to further realize the firm’s vision of making Capitol Commons an exclusive, global estate with a formidable retail, business, and residential play.
Apart from the construction of Capitol Commons’ three residential towers – Royalton, Imperium, and Maven – Ortigas & Company is also building the Estancia Expansion to complement the existing wing of its prestige mall concept. The expanded section will have a gross floor area of 76,000 square meters. It will house state of the art cinemas, new restaurants, global lifestyle brands, and a department store by retail giant, SM. 11,000 square meters of the said gross floor area will also be allotted to office spaces.
“Capitol Commons is one of our key fully integrated developments in the Ortigas central business district. It is an enclave positioned as truly modern and global, and we are fully committed to unlocking its value. We are 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 & Company President and Chief Executive Officer Jaime Ysmael said.
The firm added that Capitol Commons will become 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 CBD with another business hub, Bonifacio Global City. Capitol Commons will also become the Ortigas South station of the P227-billion Mega Manila Subway Project.
“Our masterplan for Capitol Commons takes into account not only today’s lifestyle, design, and construction trends, but also upcoming developments that involve the wider community. This investment will prepare us to become a truly integrated hub for live-work-play on this side of Metro Manila,” Ysmael added.
At present, Capitol Commons’ office spaces serve as headquarters to various multinational companies. It also has a standalone food strip called Gastro, and popular supermarket Unimart.
Residential tower, Imperium, will be topped off in September and turned over by 2020, while Royalton will be turned over next year.
Earlier this year, Ortigas & Company 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.