The dynamic retail sector in the Philippines is being driven by the constant evolution of Filipino consumers, and Ayala Malls is at the forefront, unveiling plans to transform its iconic malls—Glorietta, Greenbelt, TriNoma, and Ayala Center Cebu—in 2024.
“This is the first time in our history that we will embark on renovating at least four of our major flagship malls at once,” Mariana Zobel de Ayala, Ayala Malls president and Ayala Land Inc. senior vice president and head of leasing and hospitality, said during a recent media roundtable at Ayala Triangle Gardens Tower 2 in Makati City.
The visionary reinvention aims to redefine the concept of third spaces – spaces next to home and work or school – by creating engaging places for customers to connect with brands and each other. It also seeks to foster convergence areas, challenging retailers to deliver their best offerings in response to the evolving market demands of the Filipino customer.
“We've seen habits change, we've seen preferences evolve, and we've seen priorities reset. With this, we feel it's an opportunity to usher in a new era for Ayala Malls and a new experience for our customers,” Zobel said.
With a substantial investment of P13 billion and nearly 400,000 square meters of space, the reinvention aims to revitalize the mall experience. “We're really excited not just to uplift a sense of place in terms of experience, the mall’s aesthetic, and bringing a more modern and fresh contemporary look, but also in rethinking the programming in terms of social and green spaces,” Zobel explained.
Transforming spaces
The mall redevelopment aims to transform these properties into distinguished spaces, offering unparalleled experiences in retail, dining, entertainment, and leisure. Refreshing both exterior and interior features with a modern aesthetic and intuitive wayfinding, the initiative also maintains Ayala Malls' signature lush greenery and open spaces. This strategic overhaul seeks to optimize retail spaces, crafting a new standard that resonates with both past and future generations.
“I think we're now at this revolutionary stage where we have to make changes in order to stay relevant,” said Paul Birkett, chief operating officer of Ayala Malls. “We need to have a multifaceted option that allows relevance to each of our customers. We’ve done a lot of work in going back to understanding who our customers are, what type of products they need, and then building around it.”
Ayala Center Cebu will be the premier lifestyle destination in the Queen City of the South, while Trinoma establishes itself as the retail powerhouse of the North. Greenbelt transitions from the Philippines’ lifestyle capital to the next regional destination for fashion and luxury, and Glorietta solidifies its position as the vibrant metro powerhouse and a hub for beloved brands. This vision underscores the distinct identities and roles each property plays in shaping the regional real estate landscape.
Lush greeneries
Green spaces, a signature of Ayala Malls, will also undergo a transformative era. For Glorietta, the redevelopment will integrate the two parks into the main mall grounds, expanding the area to become more functional spaces. The renovated areas will also breathe new life into Ayala Malls, catering not just to shopping but also to everyday lifestyle needs.
“We are moving our facade forward, turning it into a multifunctional venue for activations similar to what you see in other countries. We are quite bullish about the plans of installing large screens for that theater look,” explained Hamm Katipunan, area head of Makati at Ayala Malls. “We're excited about the plans to have more functional parks.”
Greenbelt’s 3-hectare park, situated in the middle of its property, is set to be studied for further enhancement. AC Legarda, Ayala Malls vice president and area head of Greenbelt, said, “Greenbelt is a 12-hectare property in the heart of Makati CBD, and we've always boasted about the 3-hectare park. What we're trying to do now is to study the use of the park and possibly come up with ideas that will make it more interactive. We will certainly respect the park and may even enhance it with the 100 trees within.”
TriNoma will further enhance its dual-level park and provide more establishments with external seating. Ayala Center Cebu is innovatively bringing the outdoors inside, integrating landscaping beneath a vast atrium roof resembling a greenhouse.
The goal for the malls is to use landscape and nature to increase the biodiversity of the area as well, providing positive benefits to people’s mental health and wellbeing. “We're trying to create something iconic with the landscape. Our development team is currently looking at creating entire Palawan cherry orchard gardens. We want the spaces to be functional, rather than just tired gardens that you transit through,” Birkett said.
Modern design and construction
Ayala Malls properties are global destiantions that are distinctly Filipino, reflecting designs rich in local elements with modern international appeal. With this in mind, Glorietta and Ayala Center Cebu are in collaboration with Buchan, while Greenbelt has enlisted the expertise of Gensler. TriNoma has partnered with CAN Design Ltd.
Birkett highlights Ayala Center Cebu, emphasizing Ayala Malls’ conscious effort to include Filipino elements into the design process. "In Cebu, we're employing local craftsmen to ensure the development of a product that is made, reflected, and can be maintained locally,” he said. “We emphasize our target market as the Pinoy market, striving to reflect that. We also need to appeal to a global customer, given the Philippine market's high awareness of global trends.”
“There's a strong emphasis on ensuring that the sensibilities, as seen in the perfect example of collaborating with a local artist, not only reflect local essence but also resonate with a global palette. This balance is truly beautiful,” Birkett concluded.
The redevelopment is well underway, with work commencing in Q1 2024. Trinoma is set to finish by Q4 2025, while Glorietta, Greenbelt 2, and Ayala Center Cebu aim for completion by 2026. As for Greenbelt 1, starting in Q2 2024, it targets completion in 2028.