Property

Ortigas Land eyes P16B from Residences at the Galleon

Upscale property developer Ortigas Land expects to generate P16 billion in sales from a new residential tower within the Ortigas central business district.

Upscale property developer Ortigas Land expects to generate P16 billion in sales from a new residential tower within the Ortigas central business district.

The 51-story Residences at the Galleon is part of a two-tower development, comprising residential, office and retail spaces.

Slated for turnover by the fourth quarter of 2028, Residences at the Galleon features residential floors, one amenity floor, five floors of podium parking, two floors of podium retail and 43 retail units.

Jaime Ysmael, Ortigas Land president and CEO, said Residences at the Galleon is the first of a series of residential projects the company will be launching this year.

“The overall economic growth of the Philippine market (is driving demand). The primary buyers are still locals effectively looking for an outlet for their savings or money given their increased affluence. The overseas market is also growing,” Ysmael told reporters.

“The (coronavirus disease 2019) Covid-19 is something that will just disappear eventually. I think it’s just a matter of time. Aside from that, the US-China issue doesn’t really affect the Philippines much. In fact, even this Covid-19, although it will affect us a little bit but not as heavy as compared to the other countries in the region which depend a lot on trade or import or export especially with China,” he added. (PNA)

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.