Ortigas Land is very interested in an IPO to support expansion plans

Real estate developer Ortigas Land said it plans to tap capital markets to fund its expansion.

Ortigas Land President and CEO Jose Emmanuel Jalandoni said the company plans to launch an initial public offering (IPO) in five years.

“I want to prepare the company for an IPO, so we need to be seen,” Jalandoni told reporters in an interview.

In five years, Jalandoni said, Ortigas Land would have completed the development of its five lands, which would allow the company to take a stronger market position and double its revenues.

By then, the company will be “in a stronger position” to attract a large number of potential investors.

“Whether it’s an IPO or a real estate investment trust (REIT), we decide,” he said.

In a show of confidence in the real estate market, Ortigas Land announced it would be developing a sixth property. The five properties of Ortigas Land are Capital Commons, Ortigas East, Greenhills Center, Circulo Verde and Ortigas Center.

Jalandoni said Ortigas Land’s growth this year has reached pre-pandemic levels. However, he did not want to give specific figures.

Overall, all business areas recorded growth. “Next year we will open our Greenhills shopping center and office buildings, which will account for almost 30 to 40 percent of Greenhills expansion.”

Jalandoni said Ortigas Land, which is doing well in the urban areas, is aiming to double revenue growth across all its businesses over the next five years. “Again, I can’t disclose earnings because we’re not a public company.”

Meanwhile, Jalandoni said he was optimistic about the company’s latest project, dubbed The Galleon.

The Galleon is Ortigas Land’s two-tower mixed-use development, strategically located in the heart of Ortigas CBD. The masterfully planned project features stylish, luxurious finishes and upscale amenities for residential, office and retail spaces.

Equipped with integrated smart home systems and high-speed fiber optic connectivity, the company said The Galleon will also be “future-proof” and enhance the living experiences of its potential tenants.

“It’s evident that post-pandemic buyers want greener homes, and that’s a demand The Galleon can meet as it complies with the country’s green building codes and its office offering is targeting LEED accreditation.”