Ayala Land hikes mall redevelopment budget to P17.5B

Ayala Land Inc. has increased the budget for its mall redevelopment program to P17.5 billion, up from P13 billion, to expand the initiative to more malls and enhance design and experience standards.

The expanded program will include additional malls beyond the initial four flagship locations: Greenbelt 2, Glorietta, Trinoma, and Ayala Center Cebu.

This redevelopment is a key part of Ayala Malls' strategy to add over 700,000 square meters of gross leasable area in the next five years, including new developments in areas like Parklinks.

Renovations at the initial four malls are proceeding as planned, with significant milestones expected in the upcoming months.

Ayala Malls president Mariana Zobel de Ayala described the transformation as more than just renovation, aiming to create vibrant spaces for life and memory-making that align with Ayala Land's growth.