Ayala Land has signed land lease agreements with Makro Philippines for the
development of new stores in four of its mixed-use estates, expanding its
partnership with Thai-listed CP Axtra and bringing the wholesale brand closer
to growing communities and small businesses across Luzon.
Signing the agreement were (seated from the left): May Rodriguez, Project Development Regional Group Head, Ayala Land Estates; Christopher Maglanoc, Regional Estates Head, Ayala Land Estates; Shaun Wong, Deputy Chief Executive Officer, Makro International; and Mark Uy, Head of Corporate Strategy and Business Development Group, Ayala Corporation . Present at the signing were (standing from the left): Gabriel Romualdez, Business Development Manager, ACX Holdings Corporation; Gilbert Ramos, Senior Project Development Head, Ayala Land Estates; John Estacio, Senior Project Development Head, Ayala Land Estates; Sung Ho Kang, Managing Director, Makro Philippines; and Carlo Rivera, Chief Finance Officer, Makro Philippines
The agreements cover Cloverleaf in Balintawak, Quezon City; Broadfield
in Biñan, Laguna; Arca South in Taguig City; and Evo City in Kawit,
Cavite—strategically located estates along major north-south corridors and
within some of the country's fastest-growing residential and commercial
markets.
The partnership reflects Ayala Land's approach to creating greater value from
its estates as they mature: bringing in complementary businesses and partners
that strengthen the role of its developments as places to live, work, shop and
do business, while creating additional opportunities for recurring
income.
“These agreements underscore the role of Ayala Land’s estates as strategic
gateways where communities, businesses and commerce come together,” said
Christopher Maglanoc, Ayala Land regional estates head. “Our estates
are master-planned to support the needs of growing communities, and bringing a
wholesale format like Makro to these locations creates value beyond the retail
customer. It also gives families and businesses within and around these
estates access to a wider selection of products and a convenient large-format
shopping experience.”
Strengthening strategic estate locations
The four estates give Makro access to established and emerging growth centers
across Metro Manila and Southern Luzon.
Arca South, Ayala Land’s 74-hectare mixed-use estate, has emerged as a
commercial and transport gateway to southern Metro Manila.
Cloverleaf, located at the junction of EDSA and the North Luzon Expressway
(NLEX), serves as a strategic northern gateway to the capital.
In Laguna, Broadfield is being developed as Ayala Land’s first business
campus in the province, with a growing base of locators from
manufacturing, logistics and business services. Evo City in Kawit, Cavite
extends the partnership into one of Luzon’s rapidly urbanizing growth
corridors.
Together, the four locations allow Makro to expand its presence where
residential communities, businesses, and economic activity are growing, while
adding new commercial anchors to Ayala Land estates.
Combining Ayala's local platform with CP Axtra's
retail expertise
Makro Philippines is a joint venture between Ayala Corporation and
CP Axtra Public Company Ltd., operator of wholesale and retail brands
including Makro and Lotus’s. The partnership combines Ayala's local
market expertise and land bank with CP Axtra's regional retail and wholesale
experience.
Makro will offer fresh and dry food, imported products and non-food essentials
through its physical stores and e-commerce platform, supported by an
omni-channel model designed to serve both businesses and households.
“What excites me the most about this partnership is putting two businesses
that are so well established independently together,” said Shaun Wong, deputy
chief executive of Makro International. “The synergies that we have—the
partnership on the land side and retail side as well. The future is bright.
The future is exciting.”
Under the lease structure, 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 arrangement strengthens Ayala Land’s ability to generate recurring lease
income while bringing high-traffic retail anchors into its estates, enhancing
convenience and activity within these communities. It also reflects the
company’s continued strategy of leveraging its land bank and partnerships to
support long-term, sustainable growth.
As Ayala Land's estates continue to evolve, the company is expanding beyond
the development of individual properties to build more complete, connected
destinations—working with partners whose businesses respond to the everyday
needs of the communities and enterprises growing around them.
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