AREIT Inc., the listed real estate investment trust (REIT) arm of Ayala Land, is ramping up its retail play with the addition of two major Ayala Land malls.
Ayala Land Inc. (ALI) has secured fresh sustainability-linked funding from the International Finance Corporation (IFC) to advance its redevelopment of Greenbelt 1, Makati’s oldest mall and a retail landmark since 1988.
Built on municipally owned land, the project follows a build-operate-transfer arrangement granting Topline up to 50 years of operational control—30 years initially, renewable for another 20.
The Gotianun family-led Filinvest Land Inc. (FLI) is transferring its ownership of Festival Mall - Main Mall to Filinvest REIT Corp. (FILRT) through a P6.2-billion property-for-share deal.
Strong Filipino consumer spending is boosting Ayala Land’s mall business, which is observing early signs of growth momentum amid an aggressive P13-billion program to renovate key shopping malls in Metro Manila and Cebu.