MANILA, Philippines - Property developer Ortigas & Co has started construction on a luxury condominium project at the Capitol Commons in Pasig City.
The Royalton is the first of the five towers to rise in Capitol Commons, the company's P25-billion mixed-use development.
Ortigas tapped DMCI Consunji Inc. for the construction of the 64-storey residential building.
"Royalton is a statement from Ortigas. While it is tempting to design and sell units that are uniform and enough to meet the most basic requirements of homeowners, we had a greater objective in mind, and that is to make the Pasig landscape exciting once again. So in a simple ceremony such as this, we relish the forthcoming of a dream that has, literally, been concretized. It will challenge the most experienced construction firms like DMCI, but the challenge will be worth it," Joey Santos, SVP and General Manager of the Real Estate Division, Ortigas & Co. said.
Ortigas described the eye-catching design of Royalton as "The Veil".
"Apart from the aesthetics, what seals the deal for most buyers is the premium location. The development is situated to become the southern anchor of the Ortigas Central Business District. This patch of land also has a unique history, being the site of the former Rizal Provincial Capitol. More than five years ago, this place had been a seat of power and now, Ortigas is revitalizing it by pouring in an investment of P25-billion," he said.
The tower will have a full range of amenities such as conference rooms, a fitness center, landscaped garden deck, and a lap pool. A unit’s floor area can range from 34 to 154 square meters with prices at P5.5 million to P23.6 million.
Construction on The Royalton is expected to be completed by DMCI by December 2017.
The second residential tower at Capitol Commons is Imperium, which belongs to the ultra-luxe category having only four units to a floor.
Capitol Commons will have five residential towers, five cinemas at Paragon entertainment complex, and the second branch of Unimart supermarket.
At present, Capitol Commons has a restaurant strip called Gastro, with restaurants Black Olive Cerveseria, Tipsy Pig, Nomama Artisanal Ramen, and a Starbucks drive through
An upscale mall, Estancia, will open by the fourth quarter of this year. The 18,000 square meter mall will have three levels dedicated to retailers and another two other levels for knowledge process outsourcing (KPO) offices.