Ayala Land expands retail portfolio
Real estate company Ayala Land boosts its retail portfolio with new malls and department store openings.
Ayala says it will open 20 Wellworth department stores over the next five years. It will also open three shopping malls a year, ranging from 10,000sqm to 100,000sqm in size.
The first Wellworth department store, a JV with the Tantoco Family, has just opened at Fairview Terraces, a new mall in Quezon City.
“The intention is to introduce Wellworth in our mixed-use developments. Whenever we have an estate development, our intent is to have a shopping center and a Wellworth,” said ALI COO Bernard Vincent Dy.
“We continue to remain quite bullish. Our sentiments continue to remain favorable towards expansion,” Dy said.
Ayala Land also plans to open mid-market stores over the next three to five years through partnership with Puregold Price Club.