Property developer Ortigas & Company said it will infuse P26 billion into the development of Capitol Commons, a 10-hectare mixed used estate in Pasig City.
Ortigas & Company said in a statement the amount would finance the development of residential towers, offices and retail areas within the property.
Capital Commons will have three residential towers, namely Royalton, Imperium and Maven.
Ortigas & Company is also expanding the Estancia Mall to boost the leasable space to 76,000 square meters. The expanded mall will house state-of-the-art cinemas, new restaurants, global lifestyle brands and a department store by retail giant SM.
The property firm has also earmarked 11,000 square meters of the gross floor area for office leasing.
“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 Jaime Ysmael said.
The firm company added Capitol Commons would become an increasingly valuable investment and benefit from the government’s infrastructure projects.
The company said 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 said.
Capitol Commons’ office spaces currently serve as headquarters to several multinational companies. It also has a standalone food strip called Gastro and popular supermarket Unimart.
