Ortigas plans P12-B residential complex, P2-B KPO campus

By Riza T. Olchondra Inquirer MANILA, Philippines--Property firm Ortigas & Co. will build a P12-billion residential complex in Quezon City and a P2-billion knowledge process outsourcing (KPO) campus in the Ortigas Center business district in the neighboring cities of Mandaluyong and Pasig, company chief executive Rex Drilon II said. The KPO campus will be built across from the Tiendesitas retailing complex in Ortigas Center and the P12-billion residential complex will rise just off the Libis area of Quezon City, Drilon said. These projects are expected to attract enough tenants to include a retailing component, he said, noting the booms in information and communications technology and property markets. He said the company would use internally generated cash but was open to a joint venture arrangement with another group. Drilon announced last year that the company would redevelop the Ortigas Center to raise property values and enhance its status as a premiere business district of Metro Manila. He said it had hired the architectural group Palafox and Associates to prepare a master plan to transform the Ortigas Center into a “transport-oriented, pedestrian-friendly, mixed-use” business center. With INQUIRER.net