Ayala Land expands QC office portfolio

REAL estate developer Ayala Land Inc. (ALI) is increasing its office footprint in Quezon City with the development of two new office buildings that are targeted for completion by 2027.

“Vertis is a testament to Ayala Land’s unwavering commitment towards building centers of growth,” Anna Ma. Margarita Dy, the company’s president and chief executive officer, said in a statement on Monday.

“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,” she added.

Located at the corner of North Avenue and Vertis Drive, the projects — with a total gross leasable area of 82,000 square meters — are expected to attract both multinational and local companies, which, in turn, could provide over 17,000 jobs.

“This expansion will continue to uphold the Ayala brand of architecture and building systems while keeping sustainability in mind,” ALI said, noting that the new buildings would cater to modern market demands.

The Ayala-led firm saw its net income in 2023 rise 32 percent year on year to P24.5 billion on the back of strong property demand and heightened consumer activity.

Consolidated revenues were said to have expanded by 18 percent to P148.9 billion as sales grew 14 percent to P92.3 billion, driven by steady bookings and higher completion rate of residential and office projects.

ALI last year launched 25 projects amounting to P75.9 billion. Of these, 14 projects worth P39.6 billion were unveiled in the fourth quarter.

Ayala Land shares improved by 10 centavos to close at P34.90 each on Monday.