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Vertis North New Buildings soar

vertisnorththmbAvida Land Corp. Manager Caren Rose R. Rosales said, “Quezon City remains to be a strong market for residential developments.”

The ALI subsidiary is spending Php 2 billion to develop the first of the two-tower Avida Towers Sola that will bring to the market Php 3.8 billion worth of inventory.  Avida Towers Sola will offer 1,004 units comprising studio, one-, two- and three-bedroom units. Unit sizes range from 22 square meters (sq.m.) to 61 sqm starting at Php 2.6 million.

Located at Vertis North, a 46-hectare  masterplanned, mixed-use district being developed by ALI, Avida Towers Sola has sold 8% or Php 290 million worth of units since it was rolled out last month.  Avida Towers Sola is a follow-up to Avida Towers Vita, one of the company's fastest selling projects upon launch in 2013. All three towers of the latter were launched within nine months -- faster than the usual pace of one tower a year -- and are 95% sold in less than three years.

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The average selling price at Avida Towers Sola stands at Php 117,000 per sq.m. compared to the Php 95,000 per sq.m. at Avida Towers Vita in 2013.  Property values have risen by around 8% per year in Vertis North since the launch of its maiden residential offering. “We expect values for Avida Towers Sola to rise at about the same rate. Values will rise continually as Vertis North completes development,” Ms. Rosales said.

Since launching its first tower in New Manila in 2004, Avida Land has poured in Php 8 billion to develop 10 towers comprising 4,791 units across four projects in Quezon City. The new project in Vertis North will bring its total investment in the city to Php 10 billion.

Construction is proceeding as planned in the property, with the Vertis North Mall and the first of three office towers atop the shopping mall opening in the latter part of the year.

By 2017, the mixed-use district will be home to a 438-room Seda Hotel, the largest in Quezon City and double the size of its counterpart in Bonifacio Global City, that will offer a ballroom, roof deck bar, five conference suites, gym and swimming pool.

Another rising ALI development is at Fairview's green plains.   Avida offers a mid-rise condo development that provides secure and organized community living-Avida Towers Astrea.   Avida Towers Astrea complements its natural surroundings with an open garden setting that connects the different podiums of each tower. These sprawling interconnected gardens offer the same warmth, calm, and beauty of having your personal garden patch. Likewise, each floor blends well with its environment, providing more breathable spaces with fewer units in every level.  Avida Towers Astrea is presented as a safe and secure development that is in touch with both city and nature.

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