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Information ·
Vicinity Map ·
Site Development ·
Video Walkthru ·
Ortigas & Company, Limited Partnership
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Last July 10, 2006, the company that transformed vast grasslands into thriving urban complexes celebrated its 75th year. With pride, we revisit the company's beginnings and its contribution to painting the urban landscape of what we now know as Metro Manila.
The Hacienda de Mandaloyon originally formed part of the estate holdings of the Augustinian Order. The property covered an area of 4,033 hectares. On January 20, 1920, the Augustinian Fathers sold this property to Dr. Frank W. Dudley and Don Francisco Ortigas. Dr. Dudley later surrendered his interest to Phil C. Whitaker, and the company became known as Whitaker and Ortigas. In the following years, there were several changes of partners. Then, on July 10, 1931, the company was incorporated "Ortigas, Madrigal y cia., S. en C." as a limited partnership by shares (sociedad comanditaria por acciones). The parties to the partnership were Francisco Ortigas (Don Paco), Vicente Madrigal, B.C.M. Johnston, Fulgencio Borromeo, Clyde A. Dewitt and Manuel L. Quezon. All the incorporators, except Quezon, who was President of the Philippine Senate at that time, were constituted as managing and general partners (socios gerentes colectivos) while the other shareholders were designated limited partners (socios comanditarios). The objective of the partnership was to acquire the Hacienda de Mandaloyon, which spanned the municipalities that are now known as Mandaluyong, San Juan, Pasig & Quezon City. The Estate was to be disposed of either in large tracts or developed subdivided lots. In 1956, the partnership’s name was amended to Ortigas and Company, Limited Partnership. The present general partners who hold 250 partnership shares are Rafael Ortigas Jr., Francisco Ortigas III, Ignacio R. Ortigas, Fernando M. Ortigas, Mark R.P. Watkinson and Martin Cook.
When Ortigas & Company took over management of the estate, it was a virtual wasteland. It was the vision of the management team, headed by Atty. Francisco Ortigas, Jr., who was President and Chairman at that time that transformed this wasteland into a progressive industrial, commercial, and residential urban complex. Where wild grass used to grow now stands the following:
The initial development strategy was two pronged : (1) develop industrial properties and allow subdivisions and community facilities to emerge around it; and (2) focus on "elite" motivation: first class homes made attractive by a modern and accessible amenities like private schools, hospitals, churches, post offices, police stations, ample water supply, plus private sports and social clubs.
First to be developed along the Pasig River was the industrial area known as Riverside. It was here that the Philippines entered the post-war industrial era with modern manufacturing facilities like flour and steel mills. Residential subdivisions were likewise mapped out and the Capitol subdivisions were developed.
In the early 1960s, plans were drawn up to create a fully complemented first class residential community to include schools, churches and what was then the most modern concept for a shopping center as its centerpiece. Plans for building the Greenhills Shopping Center began in 1966 following two years of studying some of the world's most advanced community development projects. The proposed concept for the Greenhills Shopping Center, modern in every aspect and suited to local conditions, was presented by Architect Juan Nakpil. The concept included a supermarket, a movie house, variety stores, a bowling alley, service shops and restaurants.
The Greenhills subdivisions, which cover 197 hectares, provided a ready market for the commercial complex. There are four Greenhills subdivisions, namely, North Greenhills, West Greenhills, North East Greenhills and East Greenhills. Today, the massive redevelopment efforts that the company has embarked on in the last four (4) years has led to the evolution of Greenhills Shopping Center into the Philippine's premier shopping, entertainment, and dining destination, with over 2,000 stores and venues. It has also put the country in the international shopping map with its world-class pearls and reputation as a value-shopping mecca.
In the master plan for the Mandaloyon Estate, the center was planned into quadrants to establish priorities in development and strategies in selling. Ortigas Center was envisioned to be a first class commercial and business complex. The first three buildings that were constructed in the Center were : Ortigas Building at the corner of Meralco and Ortigas Avenues, Benpres (formerly Chronicle) Building at the corner of Meralco Avenue and Exchange Road, and the Padilla Building at the corner of Don Francisco Ortigas Jr. Road and Meralco Avenue. In 1982, Ortigas & Company led the organization of the Ortigas Center Association, Inc., (OCAI) a non-stock, non-profit organization that is working towards the advancement of the Center. At present, the association has close to 200 member properties. Among the members are some of the leading companies of the business sector, notably the Philippine Stock Exchange, San Miguel Corporation, and the SM, and Robinsons Malls that offer more than 750,000 square meters of retail choices. Starting 2004, OCAI, with the active participation of OCLP, has embarked on a major redevelopment effort to revitalize Ortigas Center, and serve the needs of existing locators and of the emerging 24/7 business process outsourcing community. Related to this effort, OCLP developed a park on a 1,590 square meter lot along Don Francisco Ortigas Jr. Road (formerly known as Emerald). Ortigas Park was opened to the public last December 19, 2005. Ortigas Park is envisioned to become an oasis in Ortigas Center; a passive sitting park for employees, visitors and shoppers, it now has a coffee shop that serves coffee, cold drinks and food, catering to the needs of the Ortigas Center community. In contrast to the walls of the buildings that surround it, a water wall has been installed to create a relaxing atmosphere and momentarily transport people who enter the park away from the urban jungle that is Ortigas Center. The boundaries of Ortigas Center are defined by Ortigas Avenue in the northeast and Meralco Avenue in the east and southeast. In its southwestern side is Shaw Boulevard, while in the northwest is Epifanio de los Santos Avenue. The Center's total area is 108 hectares. Of this area, 9 percent is under Quezon City, 44 percent is under Mandaluyong, and 47 percent is under Pasig City.
The Valle Verde residential subdivisions cover an area of 168 hectares. These were developed when the business and commercial communities were in place, in response to the housing needs of the growing population. In May 1974, the first Valle Verde Subdivision was opened for sale to the public. The subdivision was sold out on the same day. The next three (3) phases were sold in less than two years' time.
With all the surrounding areas established, the company felt it was time to develop another type of community. The Greenmeadows Subdivisions were planned with bigger lots to offer prospective buyers with the possibility of larger homes and amenities. This new venture, with some lots as large as 3,000 square meters, met with equal success.
In September 2005, the company inaugurated Tiendesitas, a 30,000 square meter shopping experience that showcases the best of Philippine architecture, cuisine, crafts, plants, and other uniquely made Philippine products. Tiendesitas is an integral part of Frontera Verde, an interim 18.5 hectare development project at the corner of Ortigas Avenue and E. Rodriguez Jr. Avenue (C-5) in Barangay Ugong, Pasig City. Other locators in Frontera Verde are SM Hypermarket, a Fun Ranch for Kids, an Automall, a Wellness Center, a Technology Corridor, as well as a Shell super station.
In the past 75 years, Ortigas and Company has proven to be the preferred partner in various real estate ventures. The company's partnerships with government, its tenants, buyers, customers, and employees, consistently reflect its corporate values: customer satisfaction, creativity, excellence, loyalty, teamwork, and employee satisfaction. Armed with these same values, Ortigas and Company aims to continue to embark on real estate ventures in the next 75 years, and continue to contribute to the country's growth and progress. |
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