Vertis North

Last updated
Vertis North
Project
StatusCompleted (Phase 1)
Developer Ayala Land
Website www.vertisnorth.ph
Location
CountryPhilippines
Location Diliman, 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.

Contents

History

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

Buildings in Vertis North as viewed from Agham Road. Agham Road, North Triangle (Quezon City; 03-13-2021) wiki.jpg
Buildings in Vertis North as viewed from Agham Road.
Solaire Resort North Solaire Resort North 2024-05-31.jpg
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

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

  1. 1 2 "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. 1 2 3 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. 1 2 Reyes, Rizal Raoul (August 21, 2019). "One Vertis Plaza: The business center in the North". BusinessMirror. Retrieved October 7, 2020.
  10. 1 2 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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