Ayala set to modernize 3 Cebu malls

Ayala Malls, the retail arm of property developer Ayala Land Inc. (ALI), announced a strategic investment of P12.7 billion to reimagine three shopping malls in Cebu province.

The investment is part of Ayala Land’s strategy to "reimagine" its flagship malls, with phased rollouts scheduled from 2025 to 2028.

The Cebu malls included in the plan are Ayala Center Cebu, AyalaMalls Central Bloc and Ayala Malls Gatewalk in Mandaue, Ayala Malls said.

Ayala Malls chief operating officer Paul Birkett said the investment reflects the company's confidence in Cebu's economic growth.

"Cebu is the economic heart of the Visayas. Our substantial investment reflects not only our strong confidence in the region but demonstrates our commitment to elevating retail standards," Birkett said in a statement.

The company said the three malls would cater to different market segments. Ayala Center Cebu will be positioned as a luxury destination, while Ayala Malls Central Bloc will target young professionals and the BPO workforce.

The new Ayala Malls Gatewalk, set to open in the fourth quarter of 2026, will be an entertainment and dining destination in Mandaue.

The company's expansion in the Visayas region also includes Ayala Malls Capitol Central in Bacolod City and Shops at Atria in Iloilo City.

Birkett said Ayala Land's malls are designed to be "integral components of our mixed-use estates and critical drivers of local economies."