Property developer Ortigas & Co. plans to spend P11 billion to develop The Galleon, a twin-tower office, retail and residential project within the Ortigas Central Business District.
Ortigas & Co assistant vice president for strategic business unit Jennelyn Belardo said in a press briefing Wednesday phase 1 of The Galleon project involved the development of a retail podium and an office for sale building.
The 39-story office development will have 47,000 square meters of net salable area at P266,000 per square meter, generating about P14 billion in total revenues.
The office development is scheduled for completion by the fourth quarter of 2025.
“We are excited to introduce The Galleon to the market, especially as this is a premier development in the Ortigas central business district,” said Ortigas & Company president and chief executive Jaime Ysmael.
“As the demand for high-quality office spaces continues to rise, we are confident that this property will be able to offer something new to investors who place a premium on convenience, accessibility, sustainability, and the prestige to claim their own piece of Ortigas Center,” Ysmael added.