Ayala Land Inc. (ALI) has cashed in on its investment in Alabang Town Center, selling its 50 percent stake in Alabang Commercial Center Corporation (ACC) to its joint-venture partner in a move that raised P13.5 billion to bankroll the company’s next phase of growth.

The listed property developer said Tuesday that the sale allows it to unlock value from the mature retail asset and use the proceeds to speed up the rollout of large-scale, high-growth leasing projects nationwide.

Unlocking value at the right time

“Our strategy is focused on a dynamic cycle of value creation. We build, we stabilize, and we unlock value at the right time to fuel our next wave of innovation,” said Meean B. Dy, president and chief executive officer of Ayala Land.

“This transaction is a prime example of that strategy in action. We are monetizing a legacy asset at peak valuation to accelerate the rollout of our expansive pipeline of commercial and retail spaces, which will define the Ayala brand of development for the next decade.”

Proceeds to fund leasing pipeline

ALI said the proceeds will be a key driver in funding its robust leasing pipeline, which includes nearly 700,000 square meters of new gross leasable area over the next five years, aimed at transforming key growth centers nationwide.

The company said it remains firmly committed to Southern Metro Manila despite the divestment, citing its master-planned estates such as Arca South, Vermosa and Evo City.

In Alabang, ALI said it continues to serve the local market through ongoing projects, including the 6.6-hectare Cerca Estate.