Sureste Properties acquires land in Quezon City for P1.9 billion

Sureste Properties Inc. (SPI), the hotel and resort development arm of Bloomberry Resorts Corporation (BLOOM), has acquired a 15,676 square meter land in Vertis North, Quezon City Central Business District for P1.97 billion from the state-owned National Housing Authority (NHA).

The property was part of the NHA’s share in the joint venture between NHA and Ayala Land, Inc. (ALI) in the Vertis North project.

SPI plans to develop the property for a mix used project in line with the Veritas North master plan.

The property was the subject to two failed bids on 7 August and 28 August 2015.  As the lone bidder, SPI submitted its offer for the property which was accepted by the NHA.