Makro to open in four Ayala Land Estates
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Ayala Land has signed land lease agreements with Makro Philippines for new stores in four of its mixed-use estates, expanding its partnership with Thai-listed CP Axtra and bringing the wholesale retailer closer to communities and businesses in Luzon.
The agreements cover Cloverleaf in Balintawak, Quezon City; Broadfield in Biñan, Laguna; Arca South in Taguig City; and Evo City in Kawit, Cavite.
The four locations give Makro access to major growth centers across Metro Manila and Southern Luzon, while adding new commercial anchors to Ayala Land estates.
Makro Philippines is a joint venture between Ayala Corporation and CP Axtra, which operates the Makro and Lotus’s wholesale and retail brands. It will offer fresh and dry food, imported products and non-food essentials through physical stores and an e-commerce platform.
Under the agreements, Ayala Land will retain ownership of the properties in Broadfield, Evo City and Cloverleaf, while Makro will develop and operate the stores. In Arca South, Makro will operate within Ayala Malls Arca South.
The partnership is expected to generate recurring lease income for Ayala Land while providing households and businesses with access to Makro’s wholesale and retail offerings.
