Ayala Land sells Alabang Town Center stake to Madrigals for P13.5B

Insider Spotlight

• Ayala Land is monetizing a mature mall asset to free up P13.5 billion for new growth.
• The deal sells ALI’s 50 percent stake in Alabang Commercial Center Corp. to its joint-venture partner, the Madrigal family.
• Proceeds will help fund a leasing pipeline of nearly 700,000 square meters of new gross leasable area over five years.
• ALI says it remains committed to Southern Metro Manila estates including Arca South, Vermosa, Evo City, and the 6.6-hectare Cerca Estate.  

Ayala Land Inc. said it has sold its stake in Alabang Town Center for P13.5 billion — funds that will be redeployed to accelerate development of its next generation of large-scale, high-growth leasing assets.

The transaction involves the sale of ALI’s 50-percent ownership in Alabang Commercial Center Corporation to its joint-venture partner — the landed Madrigal family — allowing the company to crystallize value from what it described as a mature asset.

Why it matters

The move signals a capital-recycling play as ALI leans into leasing-led expansion, using monetization proceeds to fund new commercial and retail space that can generate recurring income and support long-term growth.

Meean Dy

The Ayala Land chief says the funds will be used to develop new leasing space in other locations around the country.

The big picture

ALI framed the sale as part of a disciplined value-creation cycle—developing assets, stabilizing operations, then monetizing at an “optimal valuation” to fund the next wave of projects and enhance shareholder returns.

What they’re saying

“Our strategy is focused on a dynamic cycle of value creation. We build, we stabilize, and we unlock value at the right time to fuel our next wave of innovation,” said Meean Dy, president and CEO of Ayala Land.

“This transaction is a prime example of that strategy in action," she added. "We are monetizing a legacy asset at peak valuation to accelerate the rollout of our expansive pipeline of commercial and retail spaces, which will define the Ayala brand of development for the next decade.”

By the numbers

• Capital unlocked: P13.5 billion  
• Stake sold: 50 percent of ACC  
• Planned new leasing supply: nearly 700,000 square meters of new gross leasable area elsewhere over the next five years

What’s next

ALI said the proceeds will be a “key driver” in funding its leasing pipeline across key growth centers nationwide, while reiterating continued focus on Southern Metro Manila through master-planned estates such as Arca South, Vermosa, and Evo City, alongside ongoing projects like the 6.6-hectare Cerca Estate in the Alabang area.

— Edited by Daxim L. Lucas