Property firm Ortigas and Co. is adding serviced residences to its portfolio.
The company has partnered with hospitality firm Hospitality Innovators Inc. (HII) for the first set of serviced residences it is putting up in Greenhills and in Circulo Verde.
Company officials said the diversification is meant to address demand in Ortigas and Co.’s projects.
“We want to diversify our product range based on the market demands. We see that many buyers are looking for safe, alternative investments and that there is a growing demand for hotel-like products,” Thomas Mirasol, Ortigas& Company chief operating officer.
Ortigas and Co. said it is allocating 55 units from its Seville and Ibiza residential towers in Circulo Verde for the serviced residences called “The Cirque.” The Cirque will open this weekend.
“The Cirque will be under the Serviced Residences Program (SRP) where unit owners can enjoy hassle-free ownership of a rental property. SRP allows unit owners to gain a steady flow of rental income while HII takes care of finding a tenant, maintaining the unit, and paying all expenses,” Ortigas said in a statement.
The serviced residences form part of the units Ortigas & Company is selling in Circulo Verde, offering one-bedroom and two-bedroom packages with a price range of P4.9 to P8.5 million, inclusive of the SRP joining fee and furnishing.
“Floor sizes vary from 46 to 51 square meters for the one-bedroom unit and loft, while the two-bedroom suite is 67 square meters,” Ortigas and Co., said.
“The Cirque is targeted towards both the corporate and leisure market. Known for their properties’ distinct concepts, HII conceptualized The Cirque to tie in with the overall vision of Circulo Verde and to provide guests with a variety of unique experiences, all of which make for a truly comfortable, well-rounded stay,” it added.
Luis Monserrat, HII chief executive officer, said units in The Cirque “were designed with the end goal of making guests feel comfortable and inspired.”
“The use of beautiful and distinct materials such as Ecocarat Japanese breathing tiles that absorb humidity and odors, and Daiken’s textile walls that absorb sound, were at the forefront of the design process to enhance the well being of guests. Furniture in the units were custom-made to evoke style, function, and simplicity,” he said.
“Aside from the stylish units, business travelers will also appreciate the breadth of amenities that The Cirque has to offer in a private and self-contained environment, with an array of dining, fitness, and lifestyle options. The Cirque is also tailor-made for great staycations. Families and leisure travelers have the chance to make their beloved pets a part of the experience. Unique amenities such as the Hachi Dog Park and pet hotel and spa make all this possible. Bike aficionados will also love The Bike Playground, another unique amenity of the property,” he added.
The Cirque is HII’s 18th property under management, with the company having managed hospitality properties in Makati, Alabang, Ortigas, Puerto Princesa City, Tagaytay, Cabanatuan, and Boracay, and the company on its 18th year in the business.
Mirasol said The Cirque “is a strategic move by Ortigas & Company as it aims to renew interest in the estate. “The Cirque is part of our larger vision to fully realize the potential of Circulo Verde.”
Launched in 2009, Circulo Verde is a 10-hectare masterplanned estate along Calle Industria, straddling the cities of Quezon and Pasig. It currently has four occupied residential towers and one nearing completion. Industria serves as the estate’s retail component, which houses an exciting mix of establishments including concept cafés, restaurants, and a co-working space.
Early this year, Circulo Verde launched The Bike Playground, the country’s first internationally designed bike park. It also recently welcomed parkour and free running facility Ninja Academy in its roster of tenants. Both these new features are building towards Ortigas& Company’s plan for Circulo Verde to become a haven for the fitness community, while adding to the activities that can be enjoyed by The Cirque’s guests.
Earlier Ortigas and Co., and HII announced their partnership for a similar serviced residences in the Connor at Greenhills, the second residential tower set to rise in Greenhills Shopping Center.
The 55-storey tower is a mix of studio, one-Bedroom, two-Bedroom, and three-Bedroom units, with the first 10 levels of the tower dedicated to the serviced residences.
Amenities include a Swimming Pool, Fitness Center, Children’s Area, Landscaped Garden Area, Yoga/Dance Studio, Function Rooms, among others.
“With Connor located at the corner of Club Filipino and Eisenhower streets, everything you need is just a step away. Greenhills Shopping Center’s ongoing multi-billion-peso redevelopment gives residents a wide array of retail, dining, and entertainment options, transforming the iconic landmark into a complete and exciting shop-play-work-live community,” Ortigas and Co., earlier said. (R. Castro)