Ayala Land Inc. is pouring P12.7 billion into a sweeping makeover of three Cebu malls, a multi-year investment that the developer says will redefine retail in the Visayan region’s economic capital.
The phased redevelopment will upgrade Ayala Center Cebu, AyalaMalls Central Bloc in Cebu IT Park, and Ayala Malls Gatewalk in Mandaue by 2028.
“This is a strategic deployment of capital,” the company said in a statement, citing confidence in Cebu’s sustained consumer demand and urban growth.
Paul Birkett, Ayala Malls chief operating officer, called Cebu “the economic heart of the Visayas,” with a rising middle class and surging consumer spending.
“Our substantial investment reflects our strong confidence in the region,” he said, “and our commitment to elevating retail standards for decades to come.”
