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Ayala Malls Vertis North is a shopping center in the Vertis North mixed-use development in Quezon City, Philippines, with a gross leasable area of 106,040 square meters across four retail clusters surrounding a central Green Strip garden and events space. Opened in 2017, it targets millennials with zones like Korea Town and Japan Town, featuring over 200 stores focused on fashion, lifestyle, dining, and entertainment, including the countrys largest cinema screen (A-Giant Screen) and Merkado Supermarket as the anchor tenant.
The property benefits from its position in a 29-hectare estate that includes residential towers, Grade-A offices in Vertis North Corporate Center, and the Seda Vertis North hotel, fostering a self-contained urban hub.
Accessibility is strong via MRT-3 North Avenue station, EDSA Busway, and major roads like North Avenue and Mindanao Avenue, with a covered walkway to nearby TriNoma mall. In Quezon Citys competitive retail market, it holds a mid-tier position among Ayala Malls properties, with occupancy rates estimated at 90-95 percent based on 2025 Colliers reports indicating sector recovery to pre-pandemic levels.
Tenant mix emphasizes experiential retail, with 40 percent dining outlets appealing to young professionals and families in the areas growing demographic of 2.9 million residents, many in the 20-35 age bracket.
Leasing advantages include flexible spaces from 50 to 5,000 square meters, base rents averaging PHP 1,800-2,200 per square meter annually per JLL Manila Retail Dynamics Q2 2025, plus turnover rents tied to sales performance, supported by Ayala Lands reputation for high footfall from integrated office and residential traffic. However, market saturation from proximate malls like TriNoma and SM North EDSA poses challenges, potentially diluting capture rates, while aging infrastructure in surrounding areas could impact long-term appeal without ongoing capex.
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Hours of Operation
Hours
| Monday | 11:00 AM — 10:00 PM |
| Tuesday | 11:00 AM — 10:00 PM |
| Wednesday | 11:00 AM — 10:00 PM |
| Thursday | 11:00 AM — 10:00 PM |
| Friday | 10:00 AM — 10:00 PM |
| Saturday | 10:00 AM — 10:00 PM |
| Sunday | 10:00 AM — 10:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
Vertis North serves a demographic of approximately 2.9 million in Quezon City, with a focus on millennials and young professionals aged 20-35, drawn by nearby offices and universities like UP Diliman. Footfall benefits from integrated mixed-use elements, estimating 15,000-20,000 daily visitors per Ayala Malls patterns in similar properties, boosted by events at Green Strip and transit proximity to MRT-3, which sees 500,000 monthly riders. This supports strong dwell times for dining and entertainment, though seasonal fluctuations occur due to academic calendars and office commutes.
Competition and Market Risks
Quezon City retail market shows saturation with over 2 million square meters of GLA, where Ayala Malls Vertis North competes directly with TriNoma (180,000 sqm GLA) and SM North EDSA, leading to potential footfall cannibalization estimated at 10-15 percent overlap per Cushman & Wakefield reports. Risks include e-commerce growth eroding 5-7 percent of physical sales annually and economic volatility affecting discretionary spending in non-essential categories like fashion, necessitating adaptive tenant mixes to maintain 90 percent occupancy amid 2025 sector growth of 7.7 percent CAGR.
Lease Terms and Operational Quality
Lease structures offer 5-10 year terms with escalation clauses of 5-8 percent annually, including common area maintenance fees of PHP 200-300 per square meter. Operational quality is high with Ayala Malls management ensuring 24/7 security and pet-friendly policies, but challenges arise from basement parking limitations during peak hours and occasional MRT disruptions impacting accessibility. Rent levels remain competitive at PHP 1,800-2,200 psf base, with incentives like rent-free periods for anchor tenants, though high turnover in weaker categories like electronics highlights need for diversified leasing strategies.
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Quezon City
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Quezon City
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