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University of the Philippines and Ayala Land held the ground-breaking ceremony of the UP Town Center at the former UPIS grounds, Katipunan Avenue, Quezon City las June 18, 2012.
The project will involve the construction of retail establishments with 63,000 square meters (sq. m.) of available gross leasable area (GLA) and a combination of headquarter and business process outsourcing (BPO) office-type building with an estimated 8,000 sq. m. of GLA, according to Ayala Land.
Ayala Land, which won the 25-year leasing contract following a bidding last November, said it targets to complete the P3-billion development late in 2013.
The UP Integrated School that hosts high schools student will be relocated in the main campus of UP Diliman. Under the agreement, Ayala Land will shoulder the development of the new UP high school.
Prof. Elvira Zamora, UP's vice president for development said the current UP high school will remain untouched until the new buildings are completed. The school will move as one, not in phases, when UPIS' new facilities are completely built.
UP President Alfredo Pascual lwith Ayala Land Officials and representativers from the Quezon City Government
photo credits: El Bacani (UPSystem Information Office)