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News & Updates

Greenfield Development seeks joint venture partners
The Manila - Monday, 24 August 2009

Written by Chino S. Leyco

CAMPOS-LED Greenfield Development Corp. (GDC) is seeking joint venture partners for its project to develop another business district in Metro Manila. In an interview, Jeffrey Campos, GDC president, said there are ongoing talks between the privately held firm and several companies for possible joint venture agreements to develop the 22-hectare prime commercial property Greenfield District in Mandaluyong.

The executive, however, declined to disclose the names of companies that GDC is talking with, citing that “these are at earlier stages.”

“Definitely, there will be a master plan for the Greenfield District. I never work without a master plan,” Compos said.

The company plans to make the district into the country’s fourth business hub after Manila, Ayala and Ortigas centers.

“It took Ayala 50 years, while Ortigas has 25 years, and Manila over 100 years [to develop]. I think, it would take us 25 years to 60 years to finish this development,” Campos said.

“Madaluyong is the heart of the entire business center, it just so happened that we have been very used to Manila [during World War II] as our business district. After the war, it was the Ayala, when Ortigas was still sleeping. But towards the ‘80s, Ortigas just become a center,” he said.

Under the plan, Greenfield District will become a mixed-use residential, condominium and commercial developments.

Earlier this month, high-end real estate developer Century Properties launched its P3-billion condominium project located within the district.

A unit at the Soho Central at Greenfields District costs around P2.7 million up to P5.85 million for a 65-square-meter unit.

The company began with what was then known as EDSA Crossing, which was developed in the early 1970s as a mixed-use commercial complex with a wet and dry goods market.

In 1998, Greenfield built Paseo Commercial Center in Santa Rosa, which provides a lifestyle center alternative to the regular big-box malls.

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