Ayala announces mall redevelopment
AYALA Land Inc. announced Thursday, Feb. 15, 2024, that it is embarking on its biggest redevelopment yet this year, which will aim to transform four of its malls — Glorietta, Greenbelt, Trinoma and Ayala Center Cebu — into “remarkable spaces where customers can discover and enjoy unique and best-in-class experiences for retail, dining, entertainment and leisure.”
The real estate arm of the Ayla Group is earmarking P13 billion to refresh its key flagship malls to meet the preferences and needs in the post-pandemic era.
“With a plethora of choices available and a fierce competition for customers’ time and attention, Ayala Malls is reinventing its flagship malls to meet the evolving needs and wants of the market, and to lead the way in redefining third spaces -- to give Filipinos exciting, memorable places where they can interact with each other and the brands they love,” the company said in a statement.
ALI defined “third spaces” as a place outside of home, and work or school, where people would want to spend time.
Mariana Zobel de Ayala, ALI senior vice president and Ayala Malls president, said “the redevelopment will unleash the full potential of the malls’ retail spaces -- enhance areas for convergence, and create spaces that challenge Ayala Malls retailers to bring their best to the Filipino consumer.”
Cebu
For Ayala Center Cebu, Zobel said the mall will be transformed to become “Queen City of the South’s premier lifestyle destination -- for milestones and unparalleled retail in the region.”
Ayala Center Cebu’s redevelopment will commence in the first quarter of this year with completion slated in 2026. ALI tapped Australia-based architecture design firm Buchan to handle Ayala-Center Cebu’s new look.
Cebuanos can expect a revitalized activity center with an expanded event area for more flexibility and to accommodate bigger events and exhibits.
Four floor-high LED walls and common areas with Cebuano local craft and culture will be incorporated in the overall design.
There will be a new area for social interaction and play in open parks complemented by food outlets; enhanced entertainment and dining, which includes the conversion of one cinema into other entertainment offerings like arcades, gaming and play for different ages; and the conversion of regular cinemas to specialty cinemas.
ALI will also expand Ayala Center Cebu’s footprint of the mall to house more upscale brands and high-end restaurants.
Ayala Center Cebu is the first Ayala Malls outside of Metro Manila and Luzon that opened in Cebu in 1994. In 2008, the mall opened The Terraces, a multi-level dining enclave with landscaped park. In 2013, the mall opened an additional 36,000 square meter expansion that brought upscale and exclusive brands to Cebu.
To date, Ayala Center Cebu has a total gross leasable area of 140,000 square meters.