{"id":33032,"date":"2023-04-19T09:33:13","date_gmt":"2023-04-19T02:33:13","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=33032"},"modified":"2023-04-20T11:18:21","modified_gmt":"2023-04-20T04:18:21","slug":"ortigas-a-promising-location-for-commercial-real-estate-growth","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/ortigas-a-promising-location-for-commercial-real-estate-growth\/","title":{"rendered":"Ortigas, Philippines: A promising growth location for commercial real estate"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">The reopening of many businesses onsite led to an opportunity for commercial real estate<\/span><\/p>\n<figure id=\"attachment_33033\" aria-describedby=\"caption-attachment-33033\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-33033 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/04\/shutterstock_2008141517.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/04\/shutterstock_2008141517.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/04\/shutterstock_2008141517-400x267.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/04\/shutterstock_2008141517-600x400.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/04\/shutterstock_2008141517-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-33033\" class=\"wp-caption-text\">There is a call for identifying new cities and supporting them. MDVEdwards\/Shutterstock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The growth of the IT-BPO industry has led to an increase in demand for office space. <\/span><a href=\"https:\/\/www.bworldonline.com\/special-reports\/2022\/07\/27\/463290\/shaping-the-future-of-real-estate-in-cities-version-2-0\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Business World<\/span><\/a><span style=\"font-weight: 400;\"> discussed that, despite the rise of work-from-home schemes, office space demand from corporate tenants will remain strong in the long term. They emphasise the importance of sustainability in the real estate industry and suggest bringing new developments to greenfield and developing cities to minimise migration to already crowded urban centres. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, there is a call for identifying new cities and supporting them in terms of design, infrastructure planning, public transport, fiscal incentives, project financing, and sustainability strategies to continue the growth trajectory of the commercial real estate industry.<\/span><\/p>\n<p><a href=\"https:\/\/santosknightfrank.com\/blogs\/ortigas-a-future-city-reimagined\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Santos Knight Frank<\/span><\/a><span style=\"font-weight: 400;\"> suggested Ortigas as a prospect. The city, located at the intersection of Pasig, Quezon City, and Mandaluyong, is a prime spot for businesses, entertainment, lifestyle, and leisure. It is considered the second biggest Central Business District (CBD) and home to major companies such as San Miguel Corporation and the Asian Development Bank.<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/a-new-green-development-sprouts-in-the-philippines\/\" target=\"_blank\" rel=\"noopener\"><strong>Related: A new green development sprouts in the Philippines<\/strong><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Ortigas has a rich history, dating back to its original developers, the Ortigas family, who purchased and developed the land that was once Hacienda de Mandaloyon. The CBD has expanded into four estates in the Metro, including Greenhills Center, Capitol Commons, Circulo Verde, and Ortigas Estate. The Galleon, a two-tower development, will be the first mixed-use development in Ortigas Center, set to rise in 2028. Santos Knight Frank is a renowned real estate services agency that can assist with finding your next property.<\/span><\/p>\n<p><a href=\"https:\/\/www.colliers.com\/en-ph\/news\/ortigas-center-property-market-business-district-remarkably-reinvented\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Colliers<\/span><\/a><span style=\"font-weight: 400;\"> further noted that, unlike Makati, the district spans three cities, Mandaluyong to the west, Pasig to the east, and a small portion of Quezon City in the north. Its North Side boasts the flagship mixed-use Robinsons Galleria complex, while the West Side features shopping malls, high-end establishments, and office buildings. Meanwhile, the East Side is home to most of the business district\u2019s skyscrapers and several condo developments, hotels, and schools. Ortigas Fringe, Capitol Commons, and Greenfield District are also areas of note, with the district accessible via various forms of public transportation.<\/span><\/p>\n<p><em>The Property Report editors wrote this article. For more information, email:\u00a0<a href=\"mailto:propertyreport@propertyguru.com\" target=\"_blank\" rel=\"noreferrer noopener\">propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The reopening of many businesses onsite led to an opportunity for commercial real estate<\/p>\n","protected":false},"author":12,"featured_media":33033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[388,2514,129,638],"class_list":["post-33032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-commercial-real-estate","tag-development-project","tag-philippines","tag-real-estate","news_country-philippines","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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