The property giant is welcoming a mix of familiar names and international retailers.
“We have over 250 new store openings in the fourth quarter,” Mariana Zobel de Ayala, Ayala Land senior vice president and head of the leasing and hospitality group, said during a media briefing on Thursday.
“Some of the openings that have happened already include Din Tai Fung in Glorietta. We're looking forward to opening IKEA at Gatewalk in Mandaue. And, of course, the return of a new version of Marks & Spencer. We've also seen Bacha open as well, and On Running to follow as well,” she added.
SSI Group earlier announced that On Running will open its first dedicated Philippine store on Nov. 7 at Central Square in BGC, an SSI Group-owned development on land held by an Ayala-linked joint venture.
Marks & Spencer is set to return to Ayala Land’s Glorietta mall in Makati by December under new franchise operator MAP.
More shoppers, stronger sales
The Christmas rush is arriving with Ayala Land's malls already enjoying stronger business, as visitor traffic climbed 6 percent in the first nine months of 2026, according to the property giant's investor presentation.
Existing malls also generated 10 percent more revenue, excluding Alabang Town Center, which was sold last year, as higher rents, better occupancy and additional income from advertising, events and cinemas helped drive growth.
Occupancy remained stable, with 90 percent of the company's 2.1 million square meters of retail space leased out, little changed from 91 percent a year earlier.
Christmas openings
Ayala Land is now preparing another wave of retail attractions, with four major developments scheduled to welcome shoppers before Christmas, according to its presentation.
The Exchange at TriNoma opened on Oct. 30, while the Nuvali expansion is scheduled for Nov. 12, followed by T:28 Greenbelt on Dec. 11 and Gatewalk in Cebu on Dec. 16.
But the real engine of growth remains its established shopping centers, which are benefiting from stronger demand even as newer properties take time to attract tenants and build a steady customer base.
“It's really mainly the existing portfolio because some of the new [leasable space] that's just come online is still maturing,” Zobel said.
—Edited by Miguel R. Camus
