Ortigas & Co Inc., a partnership of the Ayala, Sy and Ortigas groups, earmarked P50 billion to redevelop a 16-hectare property within the Ortigas central business district in Pasig City.
Ortigas & Co said the redevelopment of Ortigas East, formerly known as Frontera Verde, would transform the mixed-use development into the new residential, retail and business hub in the eastern part of Metro Manila.
“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 & Company president and chief executive Jaime Ysmael said.
Under the plan, Ortigas East is set to redefine mixed-use developments through the advanced planning and design for the property.
Ysmael said to achieve the vision of an eco-efficient, connected community, Ortigas teamed up with world-renowned firms such as Callison RTKL which worked on the masterplanning, WSP Parsons Brinckerhoff for traffic analysis, AIT Wind Solutions for wind analysis on the buildings and Langan for seismic analysis.
The first phase of the redevelopment will bring new residential, retail and office developments in Ortigas East.
Ortigas is set to launch Glaston Tower, a 34-story structure being positioned as the metro’s new prime business address catering to both local and multinational businesses.
The property firm also plans an improved road network inside Ortigas East to provide more space for people to walk and bike in. It said at least 40 percent of the estate’s total space would be allotted for open parks and areas to provide balance amid the tall structures.
Ortigas & Company said it would also put up a transport terminal to help people get in and around the property and the surrounding areas.
Aside from Oritgas East, Ortigas & Co’s real estate portfolio includes Greenhills Shopping Center, Ortigas Center, Capitol Commons and Tiendesitas.
Meanwhile, two members of the Ortigas clan are trying to recover their rightful share of inheritance from their grandmother, the late Remedios Miranda de Ortigas.
Edwina Angelica Michelle Litton Ortigas and Francesca Litton Ortigas, daughters of the late Jose Miranda Ortigas, said they would present evidence before the San Juan City regional trial court in opposition to the Estate’s Administrator Fernando Ortigas’ inventory, “which we believe to be grossly understated.”
“This will include evidence on properties that were excluded from the inventory, and those which were transferred to our uncles and aunts to our exclusion, prior to our grandmother’s death. Our hearing dates are set on April 26, May 10 and May 24, 2018,” the Litton-Ortigas sisters said.
Litton-Ortigas sisters were reportedly left out of the extrajudicial settlement of the estate of Remedios, who died in 2012 without leaving a valid will.