Ayala Land Real Estate Philippines: The City Center of Quezon City’s CBD

Tuesday, October 9, 2012

The City Center of Quezon City’s CBD – Vertis North - An Ayala Land Project

Quezon City's CBD "Ayala VERTIS NORTH" News Update

On the cover photo (from L-R): Ms. Cora Dizon, Head of Commercial Business Development and Strategic Planning, Ayala Land; Ms. Rowena Tomeldan, Head of Commercial Business Operations and Support Services, Ayala Land; Ms. Meean Dy, Vice President and Head of Strategic Landbank Management Group, Ayala Land; Msgr. Domingo Erfe, Sta. Rita de Cascia Parish Church; Mr. Tony Aquino, President, Ayala Land; Hon. Herbert Bautista, Mayor of Quezon City; Atty. Chito Cruz, General Manager, National Housing Authority; Bgy. Kap. Fermin Bilaos and Mr. Dan Abando, President, Makati Development Corporation

Vertis North is the city center of Quezon City. Uniquely located and masterfully planned, Vertis North unifies the city's resources in an engine of dynamic growth, Vertis North is the nucleus of a uniquely entrepreneurial city.

Quezon City's CBD "Ayala VERTIS NORTH" News

P65 billion investment
Ayala Land has been at the forefront of pioneering developments that have emerged as the face of the cities that host them. Today, Ayala Land is bringing this kind of expertise to fore as it breaks ground on Vertis North, a 29-hectare integrated urban development that will rise as Quezon City's newest city center.

The new integrated complex called "Vertis North" will rise within the next 10 to 15 years right beside TriNoMa mall contributed by the state-owned National Housing Authority in exchange for a share of development proceeds. The partnership, which is yet to be incorporated, will be 72 percent controlled by ALI and 28 percent owned by the NHA.

"In QC, we feel that being the largest city (in Metro Manila) in terms of area and population, it truly deserves having a central business district," ALI president Antonino Aquino said in a press briefing on Thursday.

Vertis North is seen creating close to 200,000 new jobs during its life cycle, 35,000 of which will be filled in the next three to four years under the first phase.

The first phase, which is seen to cost P12 billion, will bring in new office, retail and hotel components within a seven-hectare land area. This initial phase is seen boosting ALI's recurring income base as it will open up a total gross floor area of 220,000 square meters for business process outsourcing firms, hotel and retail shops.

Vertis North will converge a broad range of offices, retail, hotel, and residential development with functionality, convenience, accessibility and urban sustainability within a 10-year timeframe.

Vertis North Ayala Land Project Quezon City News

"Quezon City is fast becoming a center of gravity for economic developments as it works to be at par with international business standards," says Antonino T. Aquino, President of Ayala Land Inc. "Ayala Land is investing a total of P65 billion to bring Vertis North into Quezon City to help establish the premier central business district north of Metro Manila."

The launch of Phase 1 of Vertis North—a P12 billion investment by Ayala Land—will mark the development of its office, retail, and hotel components within a 7-hectare land area, and is expecting completion in the next three to four years. This initial phase will put up a total gross floor area of 220,000 square meters, including business process outsourcing (BPO) establishments, hotel, and retail shops, while generating close to 200,000 jobs during its entire development phase, 35,000 of which will be filled during the development stage of Phase 1.

Vertis North -Ayala Land Project Location Map

The North Triangle property on which Vertis North stands spans 45 hectares of prime land, inclusive of TriNoma. It is a location of unparalleled strategic importance, bound by EDSA, Agham Road, and North Avenue. Masterplanned by Ayala Land in a joint venture with the National Housing Authority