Ayala Corp. (AC), the country’s oldest conglomerate, has partnered with United Arab Emirates-based premium supermarket chain Spinneys to open stores locally.

The venture will combine AC’s local market expertise and logistics capabilities with Spinneys’ experience in high-end food retail.

AC President and CEO Cezar P. Consing said on Wednesday the partnership “will catalyze trade and investment between the Philippines and the GCC.”

“At AC, we take pride in partnering with some of the world’s leading companies and working alongside them to bring world-class products and services to the Philippines,” he added.

Spinneys, owned by the Al Seer Group, operates in more than 20 countries across sectors including food, retail, hospitality, and construction.

The company said the Philippines presents “significant long-term growth potential, with strong economic fundamentals, a growing affluent population, and increasing demand for high-quality offerings.”

“As we enter this next phase, we’re delighted to be bringing our high-quality and fresh offering to a new region that is natural for us to serve as we are proud to employ and cater to many Filipinos in our current market,” Spinneys CEO Sunil Kumar said.

The tie-up follows AC’s recent ventures with Thailand’s CP AXTRA for Makro stores, as well as partnerships with Kmart Australia and BYD to expand local retail and lifestyle offerings.