Malaya 2/4/2009

UP North Property Holdings Inc. (UNPHI), a unit of Ayala Land Inc. (ALI), is investing P1 .5 billion to build four more information technology (IT) buildings at the University of the Philippines' IT park.

The buildings are among the 10 that will be built at a cost of P6 billion in the 38-hectare property along Commonwealth Ave. The Philippine Economic Zone Authority (PEZA) approved the project for tax incentives.

UPNPHI is already registered with the PEZA as a developer and operator of the UP Science and Technology Park (North).

The four buildings will have gross floor area of 46,520 meters.

ALI has a 25-year lease on the property, which would be the first development of its kind with multiple buildings and mixed-area development.

It will address the needs of IT and IT-enabled services.

ALI has successfully developed built-to-suit office buildings for business process outsourcing and call centers in Makati such as the People Support Center and Convergys and the InfoNXX building in Laguna.