Advertisement
Ayala Land Inc. has agreed to sell its 50?% share in Alabang Commercial Center Corp, the firm behind the Alabang Town Center Mall, for PHP?13.5?billion (about INR?20,000?crore) to its long?time partner, the Madrigal family. The move is part of Ayala Land�s ongoing strategy to monetise mature assets and reinvest in future growth. The deal, announced earlier this week, will free up capital for the company�s expanding leasing portfolio and shareholder returns. Alabang Town Center has been a significant retail hub since the early 1980s and grew through multiple expansions over the decades.
Ayala Land Inc. has agreed to divest its entire 50?% stake in Alabang Commercial Center Corp, which owns and operates Alabang Town Center, in a deal valued at PHP?13.5?billion to the Madrigal family?s group of companies. The company disclosed that this transaction follows a share purchase agreement with its long?standing joint venture partner and is subject to standard closing conditions. Advertisement
Alabang Town Center, one of southern Metro Manila?s most established shopping malls, first opened in the early 1980s and has seen major expansions in 1994, 2007 and 2011, helping cement its role as a key lifestyle and retail destination in the region.
Ayala Land said it received an unsolicited offer from the partner at a premium, enabling the company to realise gains on its investment and capitalise on the asset at a favourable valuation. Proceeds from the sale are planned to support the company?s broader strategy of growing its leasing business and enhancing returns for shareholders.
The Philippines?based developer?s strategy has involved developing and stabilising major retail properties before monetising them at peak valuations to fund future projects. Ayala Land noted that this approach helps fuel its pipeline of commercial and retail developments, which includes plans for significant new gross leasable areas across key growth centres nationwide.
Alabang Town Center?s origins are tied to a historic partnership between Ayala Land and the Madrigal family that began in the mid?20th century when they transformed a former mango farm in Muntinlupa into a master?planned estate. The area now comprises major residential, commercial and business districts, including Ayala Alabang Village and Madrigal Business Park
Source Reuters
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
