MANILA, Philippines – Property developer Ortigas & Company unveiled its P6.3-billion plan for a new mall in its Greenhills estate in San Juan City, which broke ground on Wednesday, April 11.
"This retail project is a showcase of what the public can expect from the new Greenhills. We are taking the shops and concepts we have now and bringing those to a whole new level that both customers and tenants can enjoy," said Ortigas & Company president Jaime Ysmael in a briefing on Wednesday.
The new mall will be integrated into existing developments at the Greenhills Shopping Center and would have some of the popular features there, including the pearl market and the bazaar or tiangge format.
The new mall will feature 7 levels with a gross floor area (GFA) of over 100,000 square meters. These include 5 levels for around 2,000 tiangge stalls, as well as 150 retail outlets and 140 food and beverage outlets.
"The tiangge will be a section in the mall. It will be more organized but still be a bargain shopping haven," Ysmael said.
It will also have 6 cinemas to complement the existing ones at the Promenade mall, plus 3 levels of basement parking.
The new mall is targeted to be completed in 2021.
Ortigas & Company also said it is planning to spend another P1.4 billion to build an office tower connected to the mall. Office spaces would be for lease.
The new mall is part of Ortigas & Company's larger P60-billion redevelopment of its 16-hectare Greenhills estate, which also includes the Connor residential tower, the renovated Unimart supermarket and McKinley Arcade Parking, and a planned office space for business process outsourcing (BPO) services.
The Greenhills redevelopment is currently in the first phase, for which Ortigas & Company expects to spend P19.1 billion over 5 years.
When completed, the entire Greenhills estate is expected to have a GFA of around one million square meters, which Ysmael said is "more than double the current GFA." – Rappler.com
