ALI plots record mall expansion this year
Ayala Land Inc. (ALI) is pushing ahead with its largest-ever retail expansion in 2026, even as global uncertainties continue to weigh on the property sector.
The Zobel family-led property giant announced during its stockholders’ meeting on Thursday the opening of more than 200,000 square meters (sq m) of new retail space this year, marking its biggest annual addition to date.
ALI will also deliver more than 70,000 sq m of new office space.
This expansion comes as the company maintains a cautious stance amid risks stemming from the Middle East crisis, which it described as a “significant disruptor” to the property development
“In times like these, our top priority is stability over aggressive growth,” Ayala Corp. chair Jaime Augusto Zobel de Ayala said. “The strategy we put in place is to pivot toward expanding our leasing footprint—and reinventing our malls and hotels has become even more relevant under these circumstances.”
The company said its malls continued to evolve beyond traditional retail into “social infrastructure,” with reinvention projects completed in Ayala Center Cebu and Trinoma. Glorietta and Greenbelt are also on track to reopen in the first half of 2026.
Alongside physical upgrades, ALI has been refining its tenant mix by introducing first-to-market brands. This strategy is already showing results, with malls posting 5 percent revenue growth and a 91 percent lease upgrade despite ongoing renovations.
ALI acquired New World Makati, reinforcing its confidence in long-term tourism growth. The Mandarin Oriental is also set to reopen in the fourth quarter after a hiatus of more than a decade.
