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Ayala Land, Inc. has allocated Php13 billion for the redevelopment of its flagship malls, including Glorietta, Greenbelt 2, and Trinoma in Metro Manila, as well as the Ayala Cebu Center.
The redevelopment of Trinoma is expected to be completed by the fourth quarter of next year, while the other three malls are targeted for completion by 2026. I Photo: Ayala Malls TriNoma (Trinoma) Facebook
Mariana Zobel de Ayala, Senior Vice President of ALI, announced that this redevelopment aims to transform these malls into exceptional spaces where customers can enjoy unique experiences.
The redevelopment project will also increase the gross leasable area of these malls by 10 percent.
To achieve this, ALI is collaborating with global architect and design firms such as Australia’s Buchan for Glorietta and Ayala Center Cebu, San Francisco-based Gensler for Greenbelt, and Hong Kong’s CAN Design Ltd. for Trinoma.
The redevelopment of Trinoma is expected to be completed by the fourth quarter of next year, while the other three malls are targeted for completion by 2026.
Paul Andrew Birkett, Chief Operating Officer of AyalaLand Malls, Inc., clarified that while parts of the malls may undergo reconstruction, the entire mall operations will not be shut down. Instead, the redevelopment will follow a sequential approach.
Despite the partial closure of these flagship malls during the redevelopment phase, ALI remains committed to doubling its net income over the next five years.
Zobel emphasized that this commitment remains unchanged, and efforts are being made to optimize operations during the redevelopment period.
ALI also envisions Greenbelt to become a prominent shopping destination in Southeast Asia, positioning itself as a luxury address not only for the Philippines but for the entire region. With these ambitious redevelopment plans, ALI aims to enhance the retail experience and elevate its malls to new heights of excellence.
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