Quezon Central Business District
I think Triangle Park is more appropriate since Vertis North is just 29 hectares of the entire CBD project when we're talking about the North and East Triangles.
Philippines' Ayala in $1.5 bln property project
AFP News – 18 hours ago Related Content View PhotoA sprawling shanty-town contrasts with high rise office buildings in Quezon city, …
Philippine property giant Ayala Land Inc. said Thursday it will spend 64 billion pesos ($1.5 billion) over the next 15 years to develop a former squatter colony in a suburb of the capital.
The 29-hectare (72-acre) lot in the largely-residential Quezon City area will be a joint venture with the government's National Housing Authority which owns the property, company spokesman Jorge Marco said.
Ayala, known for its upscale housing, office and shopping mall projects, will develop the area while the housing authority will retain the real estate, he added.
"It will house both residential, office, retail and hotel units," he told AFP.
The first phase, spanning about four years, will involve setting up three buildings for business process outsourcing operations, along with a business hotel and a mall in a seven-hectare section, he said.
This first stage will cost about 12 billion pesos.
Much of the area was once a gigantic squatter area where some 6,000 families lived in squalor.
Hundreds of these squatters rioted in 2010 to oppose their relocation, forcing President Benigno Aquino to postpone the demolition of their shanties.
The area covered by the first phase of the project has already been cleared of squatters who have been relocated by the government, Marco said.
Ayala Land, the flagship of the diversified Ayala Corp. conglomerate, posted a 31 percent growth in its net profit last year, hitting 7.14 billion pesos.
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It would have been nice if Vertis North included the area occupied by Manila Seedling Bank. Actually I would have preferred if they also occupied all the way back until Parks and Wildlife. That would look great. Pagandahin na rin ng ALI ang Parks and Wildlife!