The company has increased its redevelopment budget to PHP$17.5bn as it accelerates plans to expand its footprint across the Philippines.
Renovations at flagship sites – including Glorietta, Greenbelt, Trinoma and Ayala Center Cebu – are underway, aiming to add 700,000sq m of gross leasable area (GLA) over the next five years.
“This isn’t just a renovation programme,” said Mariana Zobel de Ayala, President of Ayala Malls and Head of the Leasing and Hospitality Group. “We’re building places that people love, aligned with Ayala Land’s long-term growth story.”
In addition to the refurbishments, the developer plans to open three to five new malls each year as part of its expansion program, including properties in the Parklinks joint estate with Eton Properties in Quezon City and Pasig.
Paul Birkett, COO of Ayala Malls, confirmed future openings will include a mall in Evo City Estate in Kawit, Cavite and an expanded Solenad in Nuvali. “We’re looking at the mall experience with fresh eyes. This is about understanding how people want to live, move and be inspired,” he added.
