By Jenniffer
B. Austria | Posted on Feb. 20, 2013 at 12:01am |
[
manilastandardtoday.com ]
Ortigas &
Co. Inc. is spending P5.8 billion to finance four retail projects that will
more than double the company’s current portfolio.
Ortigas &
Co general manager for shopping center division Cathy Casares-Ko said in a
press briefing the four retail projects under way included the expansion of the
Greenhills Shopping Center and Tiendesitas and the construction of two new
shopping centers—Estancia at Capital Commons and Industria at Circulo Verde.
Ko said the
new projects would increase the company’s gross leasable area to 340,000 square
meters.
The company
plans to add 160,000 sq. m. in leaseable space to Greenhills Shopping Center
and 20,000 sq. m. to Tiendesitas. Estancia will add 31,000 sq. m. while
Industria will contribute 13,000 sq. m. in the group’s leasable space.
Located at
the flagship development Circulo Verde, Industria is set to open in the first
quarter of 2014.
Ko said
Industria would have an interesting mix of tenants composed of a neighborhood
grocery, restaurants, weekend markets featuring organic choices, as well as
craft fairs.
A special
section of Industria called the Lab will house novel concepts in arts, culture
and design.
_________________________________________________________
