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Ayala, UP Ink Contract to Build P3bn University Town

by: Karen Cayamanda

Tuesday, February 15, 2011 | Outsourcing News |

Ayala Land to build hub that will combine BPO offices and academic support facilities

Realty firm Ayala Land and the University of the Philippines (UP) signed a contract of lease to build a “University Town”, a hub that combines BPO offices and academic support facilities. Ayala will invest about P3 billion in the development of the 7.4-hectare property, also known as the UPIS campus, located along Katipunan Avenue, Quezon City.

According to Ayala Land, the University Town Project will consist of “mixed-use retail and office components, with firm emphasis on academic support facilities. This will be the first of its kind in the country to reflect a strong collaboration between the academe and the industry."

The 25-year contract can be renewed for another 25 years through a mutual agreement. Ayala added that construction of the project will start this year.


Source:
http://www.gmanews.tv

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