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Ortigas & Co. unveils plans for QC mall

Posted on February 19, 2013 10:11:47 PM [ BusinessWorld Online ]
ORTIGAS & Co. has allotted P400 million for the construction of Industria, a 14,000-square-meter commercial complex in the property company’s Circulo Verde residential development Quezon City as part of an overall plan to expand its retail offerings, the company said in a statement yesterday.
Ortigas plans to expand its retail portfolio “with the rise of Industria -- a new P400-million indoor-outdoor retail concept that will be added to the portfolio of the company’s well-loved shopping destinations that includes Tiendesitas, Greenhills Shopping Center, and Estancia at Capitol Commons,” the statement read.
Industria, set to be completed in the first quarter of next year, will have a total leasable area of 13,783 square meters on a 7,000-square-meter site.
It will have a supermarket, food outlets, a fitness center, weekend markets, as well as The Lab, the so-called artistic section of Industria, said Cathy Casares-Kho, Ortigas Shopping Center division general manager, said in a presentation yesterday.
The complex will feature industrial designs, alluding to Circulo Verde’s address, Calle Industria, Ms. Casares-Kho said.
Circulo Verde is Ortigas’ 12-hectare residential community in Bagumbayan, Quezon City. In April last year, the master development plan for Circulo Verde was enhanced to make the its 15 towers more prominent. The plan calls for a 1.4-hectare central park, the 10,000-plus-square-meter retail center that will be Industria, and a “smart” drainage system that will collect recycled water from residents.
In addition to its latest retail project at Circulo Verde, the company is expanding its retail developments in other parts of Metro Manila through renovations of existing developments or the construction of new ones,.
Ms. Casares-Kho said Ortigas has allotted P1.4 billion to build a new six-storey, 75,000-square-meter Unimart supermarket at Greenhills Shopping Center in San Juan, which will be completed in the first quarter of 2015.
In Pasig City, Ortigas is spending P740 million to renovate the three-building Tiendesitas at Frontera Verde over a span of two years, adding a second floor to the development as well as air-conditioning. It will also add 20,000 square meters to Tiendesitas’ current 10,000-square-meter area.
The firm will spend P2.7 billion on Estancia, the planned upscale mall on a 1.6-hectare lot on at the Capitol Commons mixed-use center in Pasig that is set to open in the third quarter next year, Ms. Casares-Kho said.
Ortigas, the firm behind the Greenhills, Valle Verde and Greenmeadows subdivisions, the Ortigas Center business district, and Greenhills Shopping Center, traces its roots to the 1920s when the Augustinian friars sold 4,033 hectares in what is mostly present-day Mandaluyong City to Frank W. Dudley and Francisco Ortigas.
The company holds a 50-hectare landbank in the cities of Quezon, San Juan, and Pasig. -- Franz Jonathan G. de la Fuente
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