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Old February 18th, 2011, 04:02 AM   #1
stephencua
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PÁSIG | Capitol Commons [mix|u/c]

I've been passing through the huge lot in the corner of meralco ave and shaw blvd for the past few weeks.. i noticed that they've cleared the area of trees and all structures.. yesterday finally saw a small sign that said CAPITOL COMMONS an ortigas and co project..

these are some of the information that i saw on the net:

http://wikimapia.org/764274/Capitol-Commons
http://business.inquirer.net/money/t...d-capitol-site

anybody else has information on this?
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Old February 18th, 2011, 10:23 AM   #2
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yes. its a lot that ALI has bidded on but they backed out, so Ortigas & Co. assumed project development. It was supposed to be a Serendra type of development.

Now, Capitol Commons is a mixed used development, one exciting feature I can confirm is that a road shall bisect the property and shall connect with Meralco Avenue to Capitolyo Rotunda/Shaw Blvd. It will surely ease access to Ortigas CBD.
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Old February 18th, 2011, 11:57 AM   #3
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I think there is an old thread with this project but diff name. It was speculated on a few years back since Ortigas gave announcements on it. Anyway looking forward to seeing what they will do with this.
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Old March 9th, 2011, 06:09 AM   #4
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Old March 10th, 2011, 07:50 AM   #5
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ortigas has no money to roll out in the market, wala ng umaasa sa mga projects nila, mga bagong bayani nalang ang kumukuha ng mga projects nila.....hehehehe
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Old April 1st, 2011, 11:38 PM   #6
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Also yesterday, Santos revealed that they are now doing preliminary development work for Capitol Commons. The project will cost more than P25 billion. Aside from the residential component, the first two floors of one of the buildings will be dedicated to a mall while the succeeding three to four floors will be for office units, most likely BPOs. It will also have its own shopping mall.

Santos said that plans to partner with Ayala Land for Capitol Commons will no longer push through. “We realized we wanted to do it alone. After all, we waited 50 years to cover the property,” he pointed out.

excerpt taken from here
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Old April 2nd, 2011, 08:19 AM   #7
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i heared before that they will ressurecting the galleon place in this lot together with the ayala's, well if that was the new plan for ortigas then it will be more likely a TIANGE city mall again,just like greenhills,tiendesitas and st. francis, at utang na loob wag naman isali ang relihiyon o secta sa negosyo, CCF!!!!!!!!!!! igalang natin ang dyos, wag gamiting panakip sa mga buwis!!!!!!!!!!
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Old April 4th, 2011, 03:12 PM   #8
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Ortigas plans mixed-use devt for Capitol
ORTIGAS and Co. Ltd. Partnership (OCLP) plans to turn the former Rizal Capitol site into a master planned mixed-use community.

Joselito Santos, OCLP deputy chief operating officer and general manager for real estate, said the company expects to spend P20 billion to P25 billion to develop the 10-hectare property into a master planned mixed-use community called Capitol Commons.

The property will have mostly residential buildings, some offices and a high-end mall, Santos said.
The development of the township project will be done over a 10- to 15-year period and will be funded by internally generated cash, pre-selling and debt.

The company has plans to undergo an initial public offering, offering to float at least 10 percent to 15 percent of its shares.
“I think we are doing all the preparatory work. The timetable is still being finalized,” Santos said.

The property firm will spend about P700 million to put up the fourth high-rise residential tower in its 12-hectare property Circulo Verde at Calle Industria in Bagumbayan, Quezon City.

Named after a Spanish Catalonian town, Lleida is the first tower in phase one to offer mostly studio- and single-bedroom type units, making its offering a viable investment for young professionals and independent individuals.

Unit prices at the 24-story building range from P1.8 million to P8.5 million, varying from 21 to 95 square meters per unit. It will have 195 units in 21 residential floors, plus two floors for retail.

The tower also features a Sky Garde, a bi-level lush green space on the 11th and 12th floors, offering a view of the city and amenity deck deemed ideal as a lounge and entertainment area.

Prior to Lleida, OCLP launched three towers comprising phase one of the whole residential project: Majorca, Ibiza, and Seville.

Krista Angela M. Montealegre

April22011

http://www.manilatimes.net/business/...t-for-capitol/
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Old April 4th, 2011, 04:08 PM   #9
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Quote:
Originally Posted by Shazzam View Post
This is a HUGE lot!!! Hope the developer makes this s great place to live in
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Old April 11th, 2011, 08:06 AM   #10
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Capitol Commons [mixed use] - Shaw Boulevard Pasig

BUILDING BLOCKS
P25-B development for old capitol site
February 14, 2010 21:21:00
Doris Dumlao
Philippine Daily Inquirer

MANILA, Philippines—The Ayala and Ortigas Groups, developer of Metro Manila’s major financial districts are in talks on a potential P25-billion joint venture involving a prime 10-hectare property along Shaw Boulevard in Pasig City that formerly housed the Rizal provincial capitol.

The property was donated by the Ortigas family to the Rizal provincial government a long time ago but reverted to the landed clan after a new capitol was inaugurated in Antipolo early last year.

Pasig City, which has rapidly urbanized over the years, was carved out of the province of Rizal to be part of Metro Manila in 1975, but it continued to host the provincial capitol until the recent transfer. After more than 50 years of having its seat of government in Pasig City, the opening of the new Rizal provincial capitol addressed the clamor of constituents to have the seat of government within the territorial jurisdiction of Rizal while freeing up the property for new development projects by the Ortigas group.

Industry sources said Ortigas & Co. was now keen on developing the property at the outskirts of the bustling Shaw Boulevard and was in active talks to team up with the Ayala group, which so far has a very small footprint in the Pasig area.

This is potentially the first joint venture between Ayala and Ortigas groups, each with a long history in corporate Philippines dating back to the Spanish colonial times. Over the years, the Ayalas focused its urban development efforts on the Makati central business district and nearby areas like Taguig and Sta. Rosa, Laguna, while the Ortigases focused on the Ortigas central business center in Pasig as well as in Greenhills, San Juan.

In a brief interview with the Inquirer, Ayala Land Inc. chief finance officer Jaime Ysmael confirmed the talks between the two groups, but said nothing definite had been agreed on so far.

“There are ongoing discussions,” Ysmael said. He said ALI, for its part, was interested in the 10-hectare property because it was suitable for a mixed-use development, with the residential components a potentially good fit to the group’s Ayala Land Premier and Alveo brands.

Ayala Land Premier caters to the high-income residential segment while Alveo caters to the middle-income segment, particularly the upwardly mobile young urban professionals. Among Alveo’s projects are Two Serendra in Bonifacio Global City and The Columns along Ayala Avenue.

Ortigas & Co. president Rex Drilon previously announced plans to use the old capitol site for a new project called “Capitol Commons.” He had estimated that about P25 billion in fresh investment would be needed to develop the property.

The Ortigas family has mapped out an aggressive redevelopment program for its biggest properties to maximize the values of its central business district. Four new flagship projects were earlier announced with an investment value of approximately P25 billion each—for a total of P100 billion in investments over the next 10 years. The development of the old Rizal capitol was part of this long-term plan.

“We intend to become the Ayala of the north,” Drilon had said, alluding to the property developer’s commitment to quality and “green spaces” in its projects.
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Old April 11th, 2011, 08:09 AM   #11
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mods...

please merge with the other Capitol Commons thread...didn't see it before I made this new thread...

my apologies...
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Old April 11th, 2011, 11:18 AM   #12
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may pera ba on hand ang ortigas??? o pre-sell muna para gagamitin pambayad ay yung pera kaagad ng mga buyers, tapos yung 25 billion project na to,capital ba lahat o ito na yung kabuuang presyo ng lahat ng ibebentang units just to minimize payments of tax at ang mga buyer na ang kaagad na magbabayad ng realty tax plus around 100k na other charges for water,telephone,electricity and garbeage....
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Old April 11th, 2011, 08:01 PM   #13
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malapit na sila magkapera. their planned IPO is coming up soon.
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Old April 12th, 2011, 01:40 AM   #14
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hahahahahaha,sa labas din pala kukuha ng puhunan...ang lakas ng loob, kayat iniwan yung mga ayal (makati development corporation, ito sana ang gagawa ng mga building projects dyan...binay-ayala corp.)
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Old June 1st, 2011, 05:18 AM   #15
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Old June 1st, 2011, 07:48 PM   #16
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great update... meralco avenue extension to shaw blvd imminent via capital commons... would be nice if built.
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Old June 2nd, 2011, 05:20 AM   #17
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Quote:
Originally Posted by leechtat View Post
great update... meralco avenue extension to shaw blvd imminent via capital commons... would be nice if built.
what do u mean leechtat? isn't meralco ave already extending up to shaw blvd? or are they donating some land to widen that part of meralco ave cause right now, meralco ave narrows down to 2 lanes only on that part
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Old June 2nd, 2011, 06:54 AM   #18
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that's what i heard. i hope they do that since the narrowing of the road makes a bottleneck congestion on rush hours.
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Old June 2nd, 2011, 08:35 AM   #19
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sana nga. that area is a bottleneck.
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Old June 14th, 2011, 06:16 AM   #20
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Update: June 13, 2011....

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