Ayala Land Inc. (ALI) has raised its mall redevelopment budget from ₱13 billion to ₱17.5 billion, signaling a stronger push to transform its retail properties into integrated lifestyle destinations.
The expanded investment will fund upgrades at key sites, including Glorietta and Greenbelt in Makati, Trinoma in Quezon City, and Ayala Center Cebu. The initiative is part of a broader strategy to modernize Ayala Malls’ portfolio and increase its commercial relevance amid evolving consumer behavior.
“This extensive transformation is far more than just renovation,” said Mariana Zobel de Ayala, president of Ayala Malls and head of ALI’s leasing and hospitality group. “It aligns perfectly with Ayala Land’s long-term growth story of building places that people love.”
The redevelopment introduces modern architecture, better navigation, curated retail mixes, green zones, and cowork-friendly amenities. COO Paul Birkett said the company is “reimagining every aspect of the Ayala Malls experience with fresh eyes and renewed ambition.”
The mall program supports ALI’s five-year plan to add over 700,000 square meters of gross leasable area, including at Parklinks, its joint venture estate with Eton Properties.
Ayala Malls reported ₱5.7 billion in first-quarter revenue, up 4 percent year-on-year, buoyed by increased leasing activity and strong performance from flagship malls outside renovation zones.
