Ayala Malls bets P12.7B on Cebu upgrade

Riding Central Visayas’ growing retail market, Ayala Malls, the retail arm of Ayala Land Inc. (ALI), plans to invest up to P12.7 billion to redevelop three malls in Cebu.

Under ALI’s plan to upgrade its flagship and core malls in the next three years, the Cebu redevelopment includes Ayala Center Cebu, Ayala Malls Central Bloc in Cebu IT Park, and the upcoming Ayala Malls Gatewalk in Mandaue.

Visayas’ economic heart

“Cebu is the economic heart of the Visayas, home to a rapidly growing urban population, a robust middle class, and rising consumer spending,” Ayala Malls COO Paul Birkett said on Wednesday.

“Cebu, and the larger Visayas region, is experiencing unprecedented growth, and our substantial investment reflects not only our strong confidence in the region but also demonstrates our commitment to elevating retail standards and ensuring that we remain relevant, resilient, and impactful for decades to come,” he added.

Each mall targets different customers. Ayala Center Cebu focuses on lifestyle and luxury, attracting high-end shoppers and international brands.

Ayala Malls Central Bloc caters to young professionals and BPO workers in the Cebu IT Park with a mix of retail and dining options.

Entertainment and dining hub

The upcoming Ayala Malls Gatewalk, set to open in late 2026 in Mandaue, will be an entertainment and dining hub featuring creative spaces, gaming zones, 55,000 square meters of leasable space, and 350 stores, catering to new customer groups.

Ayala Malls’ Visayas portfolio also includes Ayala Malls Capitol Central in Bacolod and Shops at Atria in Iloilo, showing the company’s long-term confidence in the region.