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, Vicente Madrigal withdrew from the partnership and the partnership’s name was correspondingly amended to “Ortigas & Company, Limited Partnership.”
In 1985, Campos, Lanuza, Olbes and groups of general and limited partners who held 42% of the entire partnership’s equity also withdrew from the partnership.
The Mandaluyon Estate
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:
… residential subdivisions (Barranca, Capitol, Wack-Wack, Greenhills, Valle Verde, Greenmeadows)
… shopping complexes (Greenhills Shopping Center, Tiendesitas at Frontera Verde, SM Megamall, Robinson’s Galleria, EDSA Shangri-La Plaza)
… hospitals (The New Medical City, Rizal Provincial Hospital, Cardinal Santos Medical Center)
… schools (De La Salle – Greenhills, Xavier School, Immaculate Conception Academy, Lourdes School, St. Pedro Poveda College, St. Paul College)
… churches (Santuario de San Jose, Mary The Queen, St. Francis, Our Lady of Peace Parish / EDSA Shrine)
… army camps (Camp Crame, Camp Aguinaldo, Rizal PC Headquarters)
… exclusive golf and country clubs (Valle Verde Country Club, Green Valley Country Club, Wack-Wack Golf and Country Club)
Rising against its skyline are some of the country’s tallest buildings housing some of the country’s biggest industrial and commercial firms.
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.