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Vertis North

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This article is about the mixed-use development. For the shopping mall, see Ayala Malls Vertis North.
Vertis North
Project
StatusCompleted (Phase 1)
DeveloperAyala Land
Websitewww.vertisnorth.ph
Location
CountryPhilippines
LocationDiliman, Quezon City, Metro Manila, Philippines[1]
Area
 • Total29 ha (72 acres)

Vertis North is a mixed-used development in Quezon City, Metro Manila, Philippines. It is a joint venture project between Ayala Land Inc. (ALI) and the National Housing Authority (NHA). Similar to Makati Central Business District, it has a mix of developments such as residential developments similar to Legazpi and Salcedo Villages and open spaces such as Ayala Triangle Garden and Greenbelt Park.

History

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On August 27, 2009, Ayala Land Inc. (ALI) signed a joint venture agreement with the National Housing Authority to develop a 29.1-hectare (72-acre) property as a “priming project of the government and the private sector.” The total project cost is estimated at ₱22 billion, which includes future development costs and the current value of the property. ALI and NHA will contribute their respective equity share in the joint venture.[2] The NHA is responsible for relocating settlers living in the area.[3]

On July 5, 2012, Ayala Land Inc. (ALI) announced the development of Vertis North. The company initially invested ₱12 billion for the three-year development of Phase 1 of Vertis North. Phase 1 includes a Kukun Hotel, office buildings for business process outsourcing companies, and Bonifacio High Street-type retail areas in a 7-hectare area.[4]

In October 2015, Bloomberry Resorts Corporation purchased a 15.7-hectare (39-acre) property from the National Housing Authority (NHA) for ₱1.98 billion.[5] It would be developed into a casino called Solaire Resort North, a hotel tower expected to open in May 2024 with up to 550 rooms and a gaming area with up to 200 gaming tables and as many as 3,000 slot machines.[6][7]

The first phase of the project which includes the Ayala Malls Vertis North shopping mall, the Seda Vertis North hotel, and residential projects was launched in 2017.[3]

Features

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Buildings in Vertis North as viewed from Agham Road.
Solaire Resort North

Vertis North covers an area of 29 hectares (72 acres)[8] and is bounded by the Epifanio De los Santos Avenue in the west, the North Avenue in the north, Senator Miriam P. Defensor-Santiago Avenue (formerly Agham Road) in the east, and Quezon Avenue in the south.[1] More than half of Vertis North's area is allocated for office use.[9]

The Ayala Malls Vertis North shopping mall is within the area's premise. The 24-storey Seda Vertis North hotel, among the largest in northern Metro Manila with 438 rooms, is also situated in Vertis North.[10] Above the Vertis North mall is the multi-tower Vertis North Corporate Center, where several BPO companies operate.[9]

Residential developments in Vertis North include Avida Vita, Avida Sola, Alveo's High Park, and Alveo's Orean Place.[3]

Vertis North Rain Garden, which upon its completion will sit on 2 hectares (4.9 acres), is partially operational and open to the public since March 2021.

One Vertis Plaza, a 43-storey office building, was topped off in 2023.[10] Meanwhile, Solaire Resort North, a 33-storey integrated hotel and resort-casino,[11] opened on May 25, 2024, as the first five-star integrated resort in Quezon City.[12]

Ownership

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The ownership of the project is split 72% for Ayala Land Inc. (ALI) and 28% for National Housing Authority (NHA). The land in North Triangle was owned by the NHA, while the development of Vertis North is a PPP (public-private partnership).

See also

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References

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  1. ^ a b "Location". Vertis North. Retrieved October 7, 2020.
  2. ^ Arcibal, Cheryl M. (August 28, 2009). "ALI to develop a central business district in QC". GMA News Online. Retrieved March 28, 2023.
  3. ^ a b c Ballesteros, Angelica (June 27, 2017). "Ayala Land ramps up Vertis North development". Manila Times. Retrieved October 7, 2020.
  4. ^ Garcia, Cathy Rose A. (July 5, 2012). "Ayala to spend P65B to develop QC business district". ABS-CBN News. Retrieved March 28, 2023.
  5. ^ Dumlao-Abadilla, Doris (2015-10-10). "Bloomberry buys property in Ayala's Vertis project". INQUIRER.net. Retrieved 2023-03-15.
  6. ^ Burgos, Jonathan. "Billionaire Enrique Razon's Bloomberry To Open New $1 Billion Casino As Earnings Rebound". Forbes. Retrieved 2023-03-15.
  7. ^ AGBrief Editorial (March 4, 2024). "Bloomberry's Solaire North to open in late May: Chairman". Asian Gaming Brief. Retrieved April 25, 2024.
  8. ^ Reyes, Rizal Raoul (July 14, 2017). "Vertis North transforming Quezon City into a premier business hub". BusinessMirror. Retrieved October 7, 2020.
  9. ^ a b Reyes, Rizal Raoul (August 21, 2019). "One Vertis Plaza: The business center in the North". BusinessMirror. Retrieved October 7, 2020.
  10. ^ a b Villafuerte, Din (October 26, 2019). "ALP creates premium office space". Philippine Daily Inquirer. Retrieved October 7, 2020.
  11. ^ Almazan, Faye (April 16, 2021). "Bloomberry eyes Solaire North completion by 2023". The Manila Times. Retrieved June 9, 2021.
  12. ^ Dingding, Yummie (May 25, 2024). "Solaire Resort North ribbon-cutting with PBBM". Daily Tribune. Retrieved May 25, 2024.
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