Ayala Land invests $77.7m in four malls
The reinvention will start this year.
Property developer Ayala Land Inc. has confirmed its plan to invest an additional $77.7m (P4.5b) to redevelop four of its core malls.
“On top of reinventing flagship malls, we’ve also allocated just under $86.3M (P5b) to reinvent our core malls. For these, the reinvention will commence in 2025 and reopening will be phased from 2026 to 2028,” Mariana Zobel de Ayala, head of leasing and hospitality at ALI, said in a statement.
The four malls slated for redevelopment are Ayala Malls Abreeza, Ayala Malls Cloverleaf, Ayala Malls Fairview Terraces, and MarQuee Mall.
According to ALI, the initiative aims to drive foot traffic, enhance tenant sales, and elevate the overall shopping experience.
The latest investment follows ALI’s P13-b redevelopment program for its flagship malls—Glorietta, Greenbelt, TriNoma, and Ayala Center Cebu. The revamp of these key shopping centers is already 40 to 60% complete.
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