AYALA Land, Inc., the property unit of conglomerate Ayala Corp., said on Wednesday it expects its newest mall project, Ayala Vertis North, to be 85 percent operational by end-2017.
“We just had a soft opening last week and our cinemas are already fully operational,” Ayala Malls head Rowena Tomeldan said in a press briefing held in Quezon City.
“Right now, we have about 22 percent [of the mall]operational,” she added.
Vertis North is a developing central business district (CBD) in Quezon City, in partnership with the Quezon City Government and the National Housing Authority (NHA).
Ayala Land allocated P65 billion for the full development of Vertis, which includes six residential towers, the mall, the hotel and land development.
“This mall is niched for those with active lifestyles, and of course we have a lot of concepts here which could not be found in TriNoma,” Tomeldan said.
The mall, dubbed as “the first millennial shopping complex,” is a hip-lifestyle community center designed for the northern community that is “free-spirited, wired and socially active.” It targets millennials, office workers, and residents as its main market.
“It is a place of ultimate leisure and entertainment that fuses advanced technology with art and passion to create a series of exciting innovations,” Tomeldan said.
The mall is situated along North Avenue, Brgy. Bagong Pagasa, Quezon City with a gross floor area (GFA) of 59,075 square meters (sqm) and gross lease area (GLA) of 40,249 sqm.
A total of 1,450 slots are also allocated for the car park and 15,000 sqm for the supermarket, Korea Town, and Japan Town, among others.
“Mall goers can experience the latest cutting-edge technologies such as holograms and augmented realities at the Japan Town, where dining and retail meet interaction and creativity,” Ayala Land said.
It also features three A-Giant cinemas which have a total space of 2,625 sqm.
Ayala Land is one of the leading developers of estates, offering a diverse mix of properties such as residential, retail, office, hotels and leisure developments.