ALI Investing P65B In QC CBD
10-Year Development
By JAMES A. LOYOLA
July 5, 2012
Manila Bulletin
MANILA, Philippines – Ayala Land Inc. (ALI) is investing P65 billion over the next 10 years for the development of the Metro Manila’s next central business district (CBD) in Quezon City (QC) called Vertis North beside its Trinoma mall.
In a press briefing, ALI president Antonino Aquino said half of the budget will be for office buildings while the other half is for retail spaces, residential condominiums and hotels.
He added that the integrated urban development masterplan calls for the construction of 45 towers on a 29-hectare lot owned by the National Housing Authority (NHA).
“Quezon City is fast becoming a center of gravity for economic developments as it works to be at par with international business standards,” said Aquino.
ALI will invest an initial P12 billion for the launch of Phase 1 of Vertis North which will mark the
development of its office, retail, and hotel components within a 7-hectare land area, which is expected to be completed 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.
It will also generate close to 200,000 jobs during its entire development phase, 35,000 of which will be filled during the development stage of Phase 1.
Meanwhile, the national government, through NHA, also eyes to gain P11 billion worth of housing investments through its partnership with Ayala Land at Vertis North.
This will further boost the government’s efforts to reduce the national housing backlog, as it stands to benefit close to 50,000 families, said NHA general manager Chito Cruz.
Vertis North is strategically located at the northern tip of Quezon City as it is the convergence point of commuter rail lines and three major road arteries, particularly the Epifanio de los Santos Avenue (EDSA), Mindanao Avenue, and North Avenue.
It also serves as the gateway to the North given its connection to the North Luzon Expressway (NLEx). Ayala Land intends to capitalize on this huge upside by bringing an intermodal transport terminal facility at Vertis North.
He added that the integrated urban development masterplan calls for the construction of 45 towers on a 29-hectare lot owned by the National Housing Authority (NHA).
“Quezon City is fast becoming a center of gravity for economic developments as it works to be at par with international business standards,” said Aquino.
development of its office, retail, and hotel components within a 7-hectare land area, which is expected to be completed 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.
It will also generate close to 200,000 jobs during its entire development phase, 35,000 of which will be filled during the development stage of Phase 1.
Meanwhile, the national government, through NHA, also eyes to gain P11 billion worth of housing investments through its partnership with Ayala Land at Vertis North.
This will further boost the government’s efforts to reduce the national housing backlog, as it stands to benefit close to 50,000 families, said NHA general manager Chito Cruz.
Vertis North is strategically located at the northern tip of Quezon City as it is the convergence point of commuter rail lines and three major road arteries, particularly the Epifanio de los Santos Avenue (EDSA), Mindanao Avenue, and North Avenue.
It also serves as the gateway to the North given its connection to the North Luzon Expressway (NLEx). Ayala Land intends to capitalize on this huge upside by bringing an intermodal transport terminal facility at Vertis North.
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