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Manila Bulletin devider Business devider The Stock Market devider Rockwell tightens grip on Alabang Town in new ₱6-billion deal

Rockwell tightens grip on Alabang Town in new ₱6-billion deal

Published Jul 30, 2026 03:01 pm
Lopez-led Rockwell Land Corp. expanded its ownership of Alabang Town Center (ATC) to near-total control after striking a ₱6.2 billion agreement with the Madrigal family to acquire an additional 22.96 percent stake in the property’s operating entity.
In a disclosure filed with the Philippine Stock Exchange on Thursday, July 30, the property developer said it executed share purchase agreements with the majority of the remaining shareholders of Alabang Commercial Corp. (ACC)
The transaction elevates Rockwell’s total equity interest in ACC from 76.3 percent to 99.26 percent, cementing its operational dominance over the 17.5-hectare prime estate in Alabang, Muntinlupa.
Rockwell disclosed yesterday that its Board of Directors (BOD) had approved a ₱15-billion term loan facility with the Bank of the Philippine Islands to partially fund capital expenditures and other general corporate purposes.
The increased stake in ATC allows Rockwell to execute an ambitious and decade-long master plan designed to modernize the suburban retail and lifestyle landmark. Following the acquisition, the company confirmed that preliminary planning is already underway. To lead the redesign, Rockwell has engaged Uruguayan-Canadian architect Carlos Ott—renowned internationally for iconic modern landmarks—alongside local architect Jun Rodriguez of PRSP.
The immediate priorities over the next two years will center on foundational operational upgrades, specifically focusing on expanding parking capacity, optimizing traffic circulation, and recalibrating the commercial tenant mix to boost retail performance.
Over a five- to 10-year horizon, Rockwell’s broader vision aims to preserve the site's original suburban character while modernizing the venue into a high-density, experiential lifestyle and retail hub.
The deal reinforces Rockwell’s growth trajectory in 2026, building upon operational milestones across its residential, commercial, and hospitality portfolios.
Key achievements this year include the turnover of units at Aruga Resort and Residences in Mactan, Cebu; the structural topping-off of Power Plant Mall in Angeles City, Pampanga; and strong commercial demand for Cabo San Diego, a luxury beachside project in Lian, Batangas. Management noted that these developments reflect sustained investor confidence in the firm’s long-term expansion strategy.
By consolidating equity control over ACC, Rockwell positions itself to extract greater operational synergies from the property while expanding its footprint of premium, integrated real estate developments across key regional growth centers in the country. (James A. Loyola)

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