Ayala Land Inc. aims to add 700,000 square meters of additional space in its mall portfolio under a five-year plan.
The company said this will be done by opening three to five malls a year and by expanding and renovating its existing malls.
Ayala Land said the five-year program, initially launched in 2024 with a P13-billion budget, has since been scaled up by another P4.5 billion to include more malls and to elevate design and experience standards across the board.
The new malls will rise in key growth areas such as its joint-venture project, Parklinks, with Eton Properties in Quezon City and Pasig, Mariana Zobel de Ayala, Ayala Malls president and head of leasing and hospitality group, said on the sidelines of the unveiling of the redevelopment of Glorietta Mall in Makati recently.
Paul Birkett, Ayala Malls chief operating officer, said the company eyes the opening this year of malls in Evo City Estate in Imus, Cavite, followed by Solenad 4 in Nuvali in Sta. Rosa Laguna, and Park Triangle in Bonifacio Global City.
Zobel said that renovation works in Glorietta, Greenbelt, Trinoma, and Ayala Center Cebu are on track, with key milestones set for completion in the coming months.
“This extensive transformation is far more than just renovation; it’s about creating spaces where life happens, where memories are made, and one that aligns perfectly with Ayala Land’s long-term growth story of building places that people love,” Zobel said.
Zobel said the initiative “reflects Ayala Malls’ strategic intent to remain at the forefront of physical retail by adapting to changing consumer behaviors and urban lifestyles.”
“We’re reimagining every aspect of the Ayala Malls experience with fresh eyes and renewed ambition. It’s not just about redesigning spaces; it’s about understanding how people want to live, move, and be inspired,” said Birkett.
Ayala Land said the program introduces a comprehensive refresh of Ayala Malls’ flagship properties, with several key enhancements already in progress: modernized architecture and improved navigation, allowing for more intuitive movement across multiple levels; new green and al fresco zones, integrating nature and wellness into the shopping experience; curated brand mixes, including new-to-market retail concepts and experiential stores; elevated amenities and shared spaces, such as wider walkways, better seating, upgraded restrooms, and cowork-friendly areas; and sustainable infrastructure, with energy-efficient systems and natural ventilation built into the design.
Ayala Malls’ redevelopment push reinforces its role as a long-term retail anchor in key urban centers. With reinvestment now scaled up and completions approaching, the company is positioning its malls as “third spaces” — environments that combine commerce, community, and culture — to meet the expectations of the next generation of Filipino consumers.
Ayala Land in a statement said that “initial results are showing traction” as it posted a P5.7 billion in revenues in the first quarter, a 4 percent increase, driven by stable occupancy and increased gross leasable space at One Ayala and Ayala Malls Vermosa.
“Excluding areas under renovation, flagship and premium malls registered 14 percent quarter-on-quarter growth, contributing to an 11 percent gain across the broader portfolio,” it said.
“The company said it remains confident in the strength of the Philippine retail market, citing resilient consumer demand, lower-than-expected inflation at 1.8 percent for the first half of 2025, and strong macroeconomic indicators.
