Ortigas Land plans to double property business in 5 years - BusinessWorld Online

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France Dernières Nouvelles,France Actualités

ORTIGAS Land Corp. is targeting to double its property business in the next five years after returning to pre-pandemic values in the third quarter as the market’s recovery increased take-up from buyers.

“We are very encouraged with the recovery this year. Overall, we are already in the pre-pandemic levels — all of our business segments: residential, office and the mall,” said Jose Emmanuel H. Jalandoni, president and chief executive officer of Ortigas Land, in a media briefing on Wednesday.

“I think the country is very resilient in terms of its economic drivers basically coming from OFW remittances. Pre-pandemic, pandemic, post-pandemic, it’s there and contributes at least around $30 billion every year in the inflows and the BPO also is at that level,” he said during the briefing. The Galleon is a mixed-use development in the Ortigas central business district with various components, including residential, retail, and office spaces.

“We’ll have to plan the tenanting of the retail area to complement the needs of our luxury market and the fact that there’s also an office building on the next tower, completes the whole positioning of The Galleon,” he said.

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France Dernières Nouvelles, France Actualités