Buyer's Guide to Ayala Land

Ortigas & Co. looks to accelerate spending

SOURCE:
http://www.bworldonline.com/content.php?section=Corporate&title=ortigas-&-co.-looks-to-accelerate-spending&id=126110

ORTIGAS & CO. plans to accelerate spending once the real estate firm finalizes the new master plan for the development of its mixed-use projects in Metro Manila.

Ortigas & Co. President and Chief Executive Officer Jaime E. Ysmael said in an interview last week the property developer is investing P7 billion this year, mostly funded by bank borrowings.

“In the future, we want to accelerate the pace of development so that number will probably have to increase,” said Mr. Ysmael, the concurrent chief finance officer of Ayala Land, Inc.

Ortigas & Co. is creating a new five-year plan that will capitalize on the inherent strengths of the firm’s mixed-use projects, namely the Greenhills Shopping Center in San Juan, the 10-hectare (ha) Capitol Commons in Pasig City, the 18.5-ha Frontera Verde in Pasig City and the 12-ha Circulo Verde.

The company has certain parcels of land in the Ortigas business district as well as reversal rights to a portion of Camp Crame and Camp Aguinaldo, along the country’s busiest highway EDSA.

“It’s very fluid, but we will have to tweak it given the new master plan we are developing,” Mr. Ysmael said.

Mr. Ysmael, along with other Ayala Land and SM Prime Holdings, Inc. officials, have been appointed recently to the management team of the property firm after both groups decided to jointly manage and develop the Ortigas family’s property company in November 2014 after a legal row that lasted two years.

Aside from Mr. Ysmael, Ortigas & Co. recently appointed former Ayala Land International Sales, Inc. President Thomas F. Mirasol as senior vice-president and chief operating officer, and former SM North assistant vice-president for operations Renee C. Bacani as vice-president and general manager of the Shopping Centers Division. — Krista Angela M. Montealegre

Here’s a first look at Seda Lio, Ayala Land’s first venture into tourism estate development in El Nido, Palawan.

While promising to deliver the same Filipino brand of hospitality the hotel chain is known for, Seda Lio will look a little different from the brand’s urban properties, taking its cue from the estate’s tropical surroundings.

More than 75% of Lio will be open space, with the property situated 40 meters away from the shore — only steps away from Lio’s alluring four-kilometer white sand beach. Inlike other Seda hotels, Seda Lio will only have three floors. This is a deliberate move to ensure that the property does not go higher than the cocunt tree line, following Lio’s strict setback guidelines and its thrust for sustainable development.

All rooms will have a balcony to maximize guests’ vistas of the lush surroundings — including the native flora landscaped into the property and the surrounding lush tropical scapes — as well as a great view of Cadlao Lagoon, one of the most scenic lagoons in El Nido.

Seda Lio will also include a viewing deck in its lobby and lounge, all-day dining and pool bar, fitness gym, kid-friendly spaces, function rooms, spa villas, and a 1,800 sqm pool area.

Seda Lio is slated to open in summer of 2017.

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