AYALA LAND, Inc. (ALI) is set to open the Vertis North mall this week, after the completion of the first phase of Quezon City’s new central business district.
In a statement, Jay S. Teodoro, Senior Division Manager and Estate Head of Vertis North, said the city center was completed last week.
This comes five years after ALI announced its partnership with the QC government and the National Housing Authority to develop a new CBD next to the property developer’s TriNoma Mall.
The soft opening for Ayala Malls’ Vertis North is scheduled on June 9. The 40,000-square meter shopping mall targets millennials with themed retail destinations such as Korea Town, Japan Town and Urban Turf, as well as an activity center, the Green Strip, and the largest screen cinema in the country.
“Anchored on the development’s thrust of being innovative, young, entrepreneurial and full of energy, its infrastructure ensures that these values are supported by the city’s blueprint,” Jay S. Teodoro, Senior Division Manager and Estate Head of Vertis North, was quoted as saying in a statement.
Last April 23, Seda Vertis North had its soft opening, marking its entry in the Quezon City area. The hotel, which targets both business and leisure travelers, has 438 rooms.
Scheduled for opening this July is the three-tower Vertis North Corporate Center, which offers office spaces primarily to business process outsourcing firms.
“Sales take-up of its leasable area of Tower One is already at 79% to date,” Mr. Teodoro said when asked for clarification via e-mail.
ALI will be turning over units at Avida Towers Vita, the first residential condominium at Vertis North, within the second quarter. The brisk take-up for the three-tower development prompted the company to launch Avida Towers Sola, which will be turned over by December 2020.
“Vita is one of the fastest selling Avida project with all three towers launched within nine months. (It was) sold out in less than three years,” Mr. Teodoro added.
Alveo Land is also developing a 48-storey development called High Park that will feature amenities such as a Sky Lounge and Sky Park. High Park Tower 1 was launched during the second quarter of 2014, while Tower 2 was launched in the first quarter of 2015.
Mr. Teodoro noted that the High Park towers were one of the top selling projects of Alveo to date. Alveo will launch another project by the second quarter of this year.
In two and a half years, Vertis North will be strategically linked to three railway systems — the Light Rail Transit Line 1, Metro Rail Transit (MRT) Line 3, and the upcoming MRT Line 7
“Each facet of Vertis North is carefully thought out to complement and support not just the infrastructure but the lifestyle of its future denizens. As our vision takes shape, we hope to answer not just our own vision of what urban living should be, but provide tangible elements that address the needs of Quezon City’s dynamic community,” Mr. Teodoro said in the statement. — Arra B. Francia