Ayala Land reimagines Tower One to lead Makati's new office era

Makati City’s skyline is set for a striking refresh as Ayala Land undertakes a major renovation of its historic Tower One, embracing a new vision of the modern workplace.

Built three decades ago to anchor the Philippine Stock Exchange in Makati, Tower One helped establish the city as the country's premier financial hub. Now, with the office landscape dramatically reshaped by hybrid work trends, Ayala Land is reinventing the iconic tower for the future.

"We are moving beyond the traditional office setup," Ayala Land president and CEO Anna Ma. Margarita "Meean" Dy told stockholders. "Our new workplace strategy will start with Tower One — integrating fitness and wellness areas, a day care center, dynamic dining concepts, and vibrant public spaces that foster collaboration."

Despite broader challenges in the office sector, Ayala Land’s portfolio remains resilient, maintaining a vacancy rate of 9 percent compared to the industry average of 20 percent. Office revenues climbed 9 percent to ₱12.9 billion in 2024.

Industry watchers say a reimagined approach is crucial. A Colliers Philippines survey last year revealed that 54 percent of companies had returned to full on-site work, while hybrid arrangements still accounted for a sizable share.

Ayala Land is also betting on expansion beyond Metro Manila, with new Technohub office projects launching this year in Nuvali, Laguna, and Atria, Iloilo — marking a shift toward modular, cost-efficient developments in regional centers.

As Makati's corporate core continues to evolve, Ayala Land hopes Tower One’s next chapter will reflect not just where people work, but how they thrive.