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Quezon City: ALI's Vertris North should be "transformational"

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Quezon City: ALI's Vertris North (& related) should be "transformational"

 

Ayalaland's development at Vertis North should be transformational for the development of Quezon City, the historical capital of the Philippines, and still the largest city in the country

 

It has lacked a clear and popular "heart" and ALI's place-making skills may provide that at Vertis North, where there will be a large mixed use development, feature malls, a CBD, and some good quality housing.

 

avida-towers-vita-in-vertis-northqc-pres

 

avida-towers-vita-in-vertis-northqc-pres

 

Vertis North brings new energy to Quezon City as its up-and-coming central business and lifestyle district. The strategic gateway to and from the North takes the emerging Asian hub to a complete mixed-use focal point. A green core for responsible living. A growth accelerator for every scale of business. An address presenting a full range of opportunities, master-planned for centrality, connectivity, and efficiency. Leading the concept of a City Center, synergized by a destination so complete.

> more: http://www.ayalaland.com.ph/estate/vertis-north/

Where is it?

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This is right at the conjunction of the MRT and LRT-1, as well as new highway arteries, and there should also be improving access to Clark airport - a rail link maybe?

xx

In addition to the Vertis development, Ayala will be investing in the LRT railway to improve speed, efficiency, and connectivity

...

> SSC: http://www.skyscrapercity.com/showthread.php?t=1703162&page=18

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The process of change in a built-up area like Quezon City is not gentle
Inquirer.net - ‎13 hours ago‎
The lawyer for Balintawak Cloverleaf Market Corporation (BCMC) has accused the Quezon City government of getting rid of them to give way for a P25-billion development project by Ayala Land.
Aguila%20Auto%20Glass%20%20Quezon%20City
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13market.jpg
Balintawak Market is hardly enticing to shoppers, that's why it is included among the eight privately owned markets facing closure in Quezon City

THE QUEZON City government has given affected vendors a week to prepare for the impending closure of eight privately owned markets in the Balintawak area, which have been found in violation of sanitation and safety regulations.

The market operators were earlier told to upgrade their facilities in accordance with the development plan for Balintawak-Muñoz, which has been identified as a growth area for the city, according to Mayor Herbert Bautista.

But the operators had “shown no interest” in making improvements, prompting City Hall to conduct an interdepartment inspection on Thursday “to call their attention,” said Marilou Arrieta, officer in charge of the local government’s Market Development and Administration Department.

Due to their noncompliance with sanitation, waste management, fire safety and other related ordinances, these operators had not been given business permits since last year.

“The bottom line is that they really have to develop the area. If they want to continue operating as a market, they have to follow the standards. And you need time to do that,” Arrieta said.

/ 3 /
Ayala Land plans P25-billion makeover of Balintawak area
www.interaksyon.com/.../ayala-land-plans-p25-billion-makeover-of-bali...
Mar 16, 2015 - Ayala Land Inc (ALI) is spending P25 billion over a 10-year period to build the project, which would take after developments such as the ...

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LRT 1 now under Ayala, Metro Pacific management ...

 

business.inquirer.net/.../lrt-1-now-under-ayala-metro-pacific-managemen...

Sep 15, 2015 - The 20.7-kilometer LRT 1, the first elevated commuter train in Metro Manila, stretches from the Muñoz station in Quezon City to the Baclaran ...

. . .

lrt1.jpg

Light Rail Transit (LRT) Line 1. FILE PHOTO

 

A consortium between Ayala Corp. and Metro Pacific Investments Corp. assumed the operation of Light Rail Transit Line 1 (LRT 1) over the weekend, taking over what it described as a “severely deteriorated” elevated train system.

The 20.7-kilometer LRT 1, the first elevated commuter train in Metro Manila, stretches from the Muñoz station in Quezon City to the Baclaran station in Pasay City.

The move marks the first turnover of a train system under President Aquino’s public-private partnership (PPP) program.

The initiative has placed heavy focus on transport-related projects, like trains and expressways, to help combat massive traffic jams, like the multi-hour gridlock that struck Metro Manila on the night of Sept. 8.

Ayala and Metro Pacific-backed Light Rail Manila Consortium (LRMC) on Monday said it took over the operations and maintenance of LRT 1 on Sept. 12.

Also part of LRMC is Macquarie Infrastructure Holdings (Philippines) Pte. Ltd.

. . .

Poor facilities

Commuters have complained about poor facilities at train stations like toilets, which LRMC says it will address.

“LRMC is committed to improve the public’s riding experience over time and gradually bring the LRT 1 system to better operating levels,” the company said.

It added that nine of the 11 substations were also in line for rehabilitation “to help ensure more reliable train services.”

Sole bidder

LRMC was the sole bidder in the LRT 1 PPP deal after six other groups—San Miguel Corp., DMCI Holdings, Malaysia’s MTD Group, Megawide Construction Corp., Globalvia Inversiones of Spain and Ecorail of the Romero family—did not submit offers.

Some of those groups cited the PPP deal’s lack of viability given the condition of the train line.

Ayala and Metro Pacific had offered the government a premium of P9.35 billion to win the project.

Into utilities, banking

Ayala is into telecommunications, banking, real estate development and water services while Metro Pacific’s portfolio spans water services, electricity retail, toll roads and hospitals.

Together, the two had won the automated fare collection system PPP, a tap-and-go fare payment system for LRT 1, LRT 2 and MRT 3 now being implemented. The objective is to eventually replicate a broader payments system similar to Hong Kong’s Octopus card.

 

The two conglomerates are also bidding for the LRT 2 PPP and possibly, the P171-billion North-South Railway Project that would rehabilitate the 478-km line from Tutuban, Manila, to Legazpi City, with possible spur lines extension of 58 km from Calamba City to Batangas City and 117 km from Legazpi City to Matnog, Sorsogon province.

Metro Pacific chair Manuel V. Pangilinan said in a statement on Monday that the takeover of LRT 1 came after months of preparation.

“We consider the DOTC and LRTA to be our partners in this project and will work to improve the line over time, and make it a system that our commuters will not only enjoy riding, but one they can be truly proud of,” Pangilinan said.

In the same statement, Ayala chair and CEO Jaime Augusto Zobel de Ayala said both the government and private sector had commitments to meet under the concession framework.

“It is imperative that we work together to ensure the successful delivery of this project for the benefit of the riding public,” Zobel said.

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High Park - in the Vertis Project

highpark-coer-page-2.jpg?w=700&h=525

High Park at Vertis North Walkthrough

 

highpark-project-unit-details.jpg?w=700&

 

highpark-view-access-to-vertis-north-par

 

highpark-amenities.jpg?w=700&h=524

> source

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Filinvest's Activa - at the junction of MRT 3 and LRT 2.

 

RV1_2015.jpg

 

MANILA, Philippines – The Gotianum group’s Filinvest Land Incorporated (FLI) said it will start developing a 1.3 hectare property in Cubao, Quezon City into a mixed-use transit-oriented development called Activa in 2016.

Activa will have a total of 4 buildings, two of which will be office towers geared towards the business process outsourcing firms, said FLI president Josephine Gotianun-Yap in an interview during the company’s annual stockholders meeting held Friday, May 8.

She added that the mixed-use development will also have a residential condominium, a commercial development and a hotel.

The 1.3 hectare property was acquired by FLI from the Ramos family of National Book Store for close to P1 billion ($22.4 million), although Yap did not disclose the total investment cost of Activa.

 

Yap pointed out that Activa is strategically located at the junction of two busiest mass rail systems in Metro Manila, the MRT 3 and LRT 2.

==

> http://www.rappler.com/business/industries/175-real-estate/92786-filinvest-land-plans-activa-mixed-use-development

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(from the Rail thread - relevant here too):

 

New 23-km Railway started

SMC breaks ground for P 69.3 Billion MRT-7 (Manila Bullletin, Apr. 21, 2016 - pg.1)

 

NOTES
San Miguel Corp broke ground from the new railway from Quezon City to San Jose del Monte, Bulacan. The project will be operational in April 2020 and have 14 stations, and is being built by SMC's infrastructure subsidiary, San Miguel Holdings, Inc. It will have a capacity of 350,000 passengers per day. And at peak hours, will accommodate 28,000 passengers per hour, scalable to 38,000. Plans are being made to raise the daily capacity to 800,000 passengers per day.

This will significantly lessen travel times, and reduce traffic congestion.

"Apart from freeing up road space and being more efficient... it can open a world of opportunities. For wage earners, it means having more choices of places to work (and to live," said the company.

Once the MRT-7 is built, it will only take 30 minutes travel time end to end, compared to the current two hours (or more.) It is also expected to attract park-and-ride users, parking at the NLEX terminal, and riding the rails from there.

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Is Quezon City the most competitive Highly Urbanized City in the PH?

So Business Insight reports
Ahead of: Manila, Davao, Antipolo, Naga, & Tagum City (which we also listed)
QC was helped by: its infrastructure, its resiliency, and its government efficiency

 

Makati City was second last year, but has dropped off the list of leaders.

Why? Perhaps, because office space is so tight in Makati, and rents are rising

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Quezon City aims to open world's second-tallest tower by 2019
Gulf Times-12 Apr 2015

At its total height, the tower — called Philippine Diamond Tower — would be the country's tallest ... will also house an international convention centre, a five-star hotel, a shopping mall, restaurants, ... However that may be, the project is covered by a loan from the Japan International ... 11/8/2017 1:00:55 AM.

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VERTIS NORTH in Quezon City, site visit :

kSY4xith.jpg

I visited AyalaLand's Vertis North project in Quezon City today.  It was the first time I had seen it in person, after looking at maps, floorplans, and other images for about two years.  In fact, it looked better than I had expected, and I think a good investment case can be made.  But you may have to move fast, for reasons I will explain.


Here are some reasons I am predisposed to like certain selected opportunities in VN:


+ The Transport angle:  Vertis may turn out to be the "best connected" location in PH. Within the next 5-10 years all of Manila's major railways may connect thru Vertis: The EDSA/MRT-1 line (at North Station), The LRT, MRT-7 to Bulacan (& maybe going on the Clark, and probably the first station of the recently approved Mega-Manila subway. MRT-1 now services North station, and there is room for major improvements on that line when the new contractors take over in 2018 (as expected.)   The big improvement in connectivity to the airport will be in maybe 5-6 years if the Mega-Manila subway is completed "on time." Then, the journey to NAIA might be something like 30-40 minutes, with easy connections to Clark airport sometime in the future.


+ Offices & Jobs: With so many connections, it will be a suitable place for big companies to put their Northern Headquarters, or even their PH Head offices.  Something like 70% of the space in the whole of Vertis is reserved for offices.  Three BPO's will open in the first half of 2018.  Many more office buildings are coming there. (# offices to be obtained from Ayala contacts)


+ Quezon City is huge: QC has a rich history, having once been the capital city of the PH.  Living within the city are lmany wealthy people and they are served by a few large malls (Trinoma and SM's mall, come to mind.)  But the city lacked a main CBD, business center.  Ayala's Vertis North should provide that within 5-10 years as the office buildings are completed and rented out.  People working in the CBD will provide tenants, and possible future buyers of properties at VN, raising the probability of a profitable exit


+ VN with have a nice green park at its heart: this will make it a nice place to meet, to relax, and to do outdoor sports, such as jogging.  People will want to live on or near the park, when they work nearby, or if they use the transport connections to commute to jobs elsewhere.  The Ayala salespeople call it "the next BGC" (a title also claimed by Arca South), but VN's size, its great transport links, probable high paying jobs, and ability to build higher - actual skycrapers - may give a better chance of mimicking BGC than Arca.  BTW, the transport links at VN are BETTER than those at BGC


+ Vertis Style: Visit the Seda hotel at VN, the "largest Seda hotel" and the nextdoor Vertis North mall and you may get a sense of the style and branding that Ayala is aiming for at Vertis.  There is also a casino coming into VN, tio be run by Solaire
===
(I may have some more  private notes on specific opportunities to those who may have a deeper interest - please contact me.
There are 5 units that I think may be interesting, and one of them looks of real interest as a possible personal investment.)

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vertis+north+02.jpg

==

Avida's Projects at Vertis North

Name : Launch : - Initial Prices - : - Recent Prices - : Completion

VITA-  : In 2014 : P 80 - 90k psm : P120-130k psm : T1 turned over 2017

SOLA T1, 2017 : P 120k per Sm : about P130 psm : Dec.2020 - 2021

           T2, 2018 : Not announced

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