LISTED property developer Ayala Land, Inc. (ALI) said it has started the construction of two new office buildings at Vertis North in Quezon City.
The two buildings, Vertis North Corporate Centers 4 and 5, are expected to be completed by 2027, ALI said in a regulatory filing on Monday.
The buildings will have a total of 82,000 square meters of gross leasable area and will join ALI’s Vertis North Corporate Centers 1, 2, and 3 buildings.
The projects are expected to generate employment for over 17,000 Filipinos as these are expected to attract both multinational and local corporations, the company said.
“We hope that Vertis North Corporate Centers 4 and 5 will further contribute to Quezon City’s already vibrant economy and provide even more employment opportunities to its young working population and new graduates,” ALI President and Chief Executive Officer Anna Ma. Magarita B. Dy said.
“Vertis is a testament to ALI’s unwavering commitment towards building centers of growth,” she added.
Meanwhile, ALI said the expansion will uphold the Ayala brand of architecture and building systems while also being sustainable.
“The new structures will be built to meet the modern market demands, while exemplifying sustainable practices certified by Leadership in Energy and Environmental Design and other green building certifications,” the company said.
In 2023, ALI recorded a 32% increase in its full-year net income to P24.5 billion carried by strong property demand and consumer activity. The company’s consolidated revenue jumped by 18% to P148.9 billion.
ALI shares rose by 0.29% or ten centavos to P34.90 each on Monday. — Revin Mikhael D. Ochave
