Seasoned developer set to break new grounds
It comes with a rich 88-year history now being fueled with a fierce passion and a fresh perspective that will, no doubt, transform the company into one of the strongest players in the Philippine real estate industry.
For a seasoned developer like Ortigas & Co., remaining relevant to the markets it sought to serve was crucial for its next wave of growth and expansion.
This is why over the last several years, the company has been in the thick of implementing a strategic transformation roadmap, which marries its eight-decade long legacy and expertise with the latest innovations and technological trends in its field. This move will not only allow it to remain a top-of-mind choice among consumers but will likewise bring Ortigas & Co. to a new level of growth and profitability.
Ortigas & Co. president and CEO Jaime E. Ysmael said of this ongoing transformation: “we are turning things around, we are firing all engines now.”
“It’s all work in progress. We’re building up the organization so we can execute well all the plans we have. We earlier launched a transformation roadmap and we’re continuing that transformation… We also have a clear plan for the company in the next five years in terms of what we want to attain. Our overall objectives are based on four pillars namely: growing the business, improving profitability, capital efficiency, and execution with a purpose—all of which are being done by employing the values which the company stands for,” Ysmael further explained.
Massive transformation
A more revitalized Ortigas & Co., under a partnership Ayala Land Inc. and SM Prime Holdings, is now undergoing a massive transformation and rebranding, entailing billions of pesos worth of fresh capital outlay that will allow the company to maximize its assets and create innovative offerings to what has become a more discerning Philippine market.
According to Ysmael, they have already begun rolling out these changes, from the way they manage the construction process, train and develop their work force, engage their existing and prospective customers, and improve on property management, to how they ensure that all their products and services “translate to superior customer experience.”
At the same time, Ortigas & Co. is pulling out all stops to further enhance the way their projects are conceptualized to ensure that their offerings continue to be innovative and, more importantly, attuned to what the markets require—be it for a residential project, for its commercial areas, or even for the office spaces. Hence, all the masterplans, particularly for its four estates, have now been revisited, reviewed and improved.
“We want to make sure that we create livable, workable, playable communities for our intended customers,” he added.
Masterplanned estates
On focus now are its four masterplanned estates: the 16-ha Greenhills Center, where a P60-billion redevelopment plan is underway; the 10-ha Capitol Commons, touted as a new destination for luxury living; the 10-ha Circulo Verde, envisioned to be a suburban sanctuary in the city; and the 16-ha Ortigas East, an eco-state along the bustling C5 corridor.
As announced earlier, the company would be rolling out a P50-billion masterplan to redevelop “Ortigas East,” while another P26 billion had been earmarked for the continued development of the Capitol Commons estate in Pasig City.
Apart from its estates, Ortigas & Co. is also planning to further develop its other existing assets within Ortigas Center.
Since its partnership with Ayala and SM Prime was sealed, Ortigas & Co. has already launched the Estancia Mall and some 15,000 sqm of prime office spaces on the upper floors, as well as three upscale residential towers, The Royalton, The Imperium, and Maven—all located within Capitol Commons. Greenhills’ first luxury residential tower—The Viridian in Greenhills—is now being turned over to buyers while another residential tower called Connor, was launched. Ortigas East, the latest estate to be redeveloped, was launched with an initial offering of the first office-for-sale building, The Glaston Tower.
“For this year, our 88th year in the business, we have lined up several exciting projects. We have a piece of property across the Asian Development Bank where we will put up a mixed-use project called The Galleon. The first tower will have premium grade A office spaces and retail areas, while the second tower will be for residential use,” Ysmael disclosed. “We also plan to re-develop our current office building, while a fourth residential tower at the Capital Commons may also be launched within the year, given the strong sales take up in this estate.”
“Our intention is to make sure that we will have ready projects for which we can readily pull the trigger once there is a demand. In this way, we will always have a project that’s ready to be launched to serve this growing demand,” he said.
And while its transformation is still underway, there is no doubt that Ortigas & Co. is well poised to become a formidable player as it continues to roll out innovative projects that will make the Philippine real estate scene more exciting than ever, while helping enhance the city skyline anew.
