Ayala Land breaks Ground at P65B Project in North Triangle

vertisarticlepic1The Vertis North is a 29-hectare integrated urban development that is primed to be part of the Quezon City Central Business District, an economic development project that is systematically nestled at the northern part of the metropolis.

The location at the North vertisarticlepic2Triangle boasts of strategic location of being in the heart of important transport thoroughfares like EDSA and the newly opened Mindanao exit to NLEX, and the public transport lines such as the MRT.

The P65 billion investment will converge a broad range of offices, retail, hotel and residential development but gives great importance of having open spaces for people to relax, relieving from the stress of city living.

Vertis North is a collaboration of ALI and NHA with a 72-28 split of ownership, turning the government idle land into productive use. NHA General Manager Chito Cruz said that this project helps the agency earn an initial P6 Billion and appraised revenue of another P6 that they will use for 60,000 socialized housing projects.

The launch of Phase 1 of Vertis North – a P12 billion investment by Ayala Land – will mark the initial development of a 7-hectare land parcel, and is expecting completion in the next three to four years. This phase will develop a total gross floor area of 220,000 square meters that will include business process outsourcing establishments, hotel and retail shops. It is foreseen to generate close to 200,000 jobs during its entire development phase, 35,000 of which will be filled during the development stage.

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