Ortigas, IBP partner for office project


Posted at Jul 19 2014 08:49 AM | Updated as of Jul 19 2014 04:49 PM

In photo are: Fernando M. Ortigas, Atty. Ignacio R. Ortigas, SVP and General Manager for Real Estate Division Joey F. Santos, Chairman of the IBP Board and National President Atty. Vicente M. Joyas, Executive Vice-President Atty. Rosario T. Setias-Reyes and Atty. Roan I. Libarios.

MANILA, Philippines - Ortigas & Co. is building a new office building in the Ortigas business district.

Ortigas & Co. will be building a 26-storey building on a 1,700 square meter-property owned by the Integrated Bar of the Philippines (IBP).

The building will be called IBP Tower.

IBP and Ortigas recently signed an agreement setting a 35-year lease period and allows the property developer to build the tower on IBP's property.

IBP will use three floors of the building, while the rest is expected to be occupied by business process outsourcing (BPO) offices, and law firms.

The tower, which is expected to be completed on the third quarter of 2016, will be brokered by Colliers Philippines.

"This year, Ortigas & Co. celebrates its 83rd anniversary. We are among the country’s most established organizations that have built commercial and residential landmarks; and while we take pride in what we have achieved by far, Ortigas recognizes that we owe our success to our partners like IBP," SVP and General Manager for Real Estate Division Joey F. Santos for Ortigas & Company said.

Ortigas & Co. currently has 29,000 square meters of office space under its portfolio. Among their projects include Ortigas Building and Silver City 1, located at Frontera Verde Knowledge Process Outsourcing campus. Other office projects in the pipeline include Silver City 2 and 3.

The company is also building two new towers in its 10-hectare Pasig property, Capitol Commons.