Ayala Land Inc. is pouring P12.7 billion into a massive makeover of three Cebu malls in a multi-year investment that it says will redefine retail in the Visayan region’s economic capital.
The phased redevelopment will upgrade Ayala Center Cebu, Ayala Malls 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.
Birkett said Ayala Land malls are not merely commercial centers; they are integral components of our mixed-use estates and critical drivers of local economies. They integrate shopping, dining, entertainment, and community spaces.
“Ayala Malls aims to reinforce its leadership and ensure long- term relevance in the Philippine retail sector,” Birkett added.
Ayala Center Cebu will be positioned as the “premier lifestyle and luxury destination, attracting high-value consumers and international brands.”
Ayala Malls Central Bloc will be a “dynamic hub for young professionals and the BPO workforce
within Cebu IT Park, offering a curated mix of retail and dining tailored to this demographic, the company said.
Ayala Malls Gatewalk on the other hand will be designed “as a vibrant entertainment and dining destination,” expanding Ayala Malls’ reach into new growth areas and consumer segments, featuring creative hubs, gaming zones, and a massive, design-forward food hall, with a 55,000-square meter gross leasable area and 350 merchant spaces.
