Forbes Asia has named two Filipina business leaders — Mariana Zobel de Ayala and Mybelle V. Aragon-GoBio — among its 2025 “Asia’s Power Businesswomen,” a prestigious annual list spotlighting 20 influential women who are redefining leadership in the region’s corporate landscape.

Zobel de Ayala, 35, is the Head of Leasing and Hospitality at Ayala Land Inc., the real estate arm of Ayala Corp., the Philippines’ oldest conglomerate valued at $5.8 billion (approximately P340.808 billion). She is currently leading a $1.5 billion (approximately P88.14 billion) redevelopment project that aims to modernize and expand Ayala Land’s commercial portfolio, including the overhaul of eight malls and the construction of new mixed-use properties. The ambitious plan is expected to boost the company’s gross leasable area by one-third to 2.9 million square meters by 2028. She is also overseeing a $500 million (approximately P29.38 billion) hospitality investment that aims to almost double Ayala Land’s hotel rooms to 8,000 by 2030.

Joining her on the Forbes list is Mybelle V. Aragon-GoBio, the recently appointed President and CEO of Robinsons Land, the property arm of JG Summit Holdings. Aragon-GoBio made history in February as the first woman — and the first non-family member — to lead the company, founded by the late tycoon John Gokongwei in 1980. Starting in the firm as an administrative assistant in 1993, she steadily climbed the ranks to lead key business units before taking the company’s top job.

Aragon-GoBio has outlined a bold $2.125-B (approximately P125 billion) expansion roadmap through 2030, targeting to double Robinsons Land’s net income to $425 million (approximately P25 billion), expand its mall network from 55 to 69, scale its office portfolio by 50 percent to 1.2 million sqm, and grow its logistics, hotel, and mixed-use estate developments. She holds degrees in management engineering and international business, the latter from the University of Antwerp.

The inclusion of Zobel de Ayala and Aragon-GoBio underscores the growing visibility of Filipina leaders in Asia’s corporate sphere. They join other first-time honorees on the list such as Priya Nair, CEO of Hindustan Unilever in India; Maggie Ng, HSBC Hong Kong head; and Amanda Lacaze, who transformed Lynas Rare Earths into a global mining powerhouse in Australia.

“Forbes Asia’s Power Businesswomen list celebrates trailblazers who are not just adapting to change, but actively shaping the future of the region’s business landscape,” said Forbes Asia Editorial Director Rana Wehbe Watson in a statement.

Together, Zobel de Ayala and Aragon-GoBio represent a new era of leadership driving innovation, resilience, and growth in Philippine real estate and development — reaffirming the country’s place on the regional economic map.