Ayala Land to spend P1 billion for Market! Market! facelift
The Zobels have secured the government’s approval to expand its lease on Market! Market! for more than 12 years in exchange for a P1-billion pledge to turn the property into a retail-mobility hub.
The Zobels have obtained government approval to lease Market! Market! for more than 12 years in exchange for a significant investment. The lease, which begins on June 5, 2027, will cover 12 years and seven months, according to Ayala Land Inc. (ALI). Market! Market! is a property located in Bonifacio Global City (BGC), and the extension was issued by the Bases Conversion and Development Authority (BCDA) to ALI's unit Station Square East Commercial Corp. (SSECC).
SSECC will invest up to P1 billion to transform Market! Market! into a retail-mobility hub, which will include the integration of the property into the Metro Manila Subway Project (MMSP) and the redevelopment of the central plaza into a transit-oriented space. BCDA President and CEO Joshua Bingcang emphasized the importance of SSECC's commitment to rebuilding Market!
Market! to accommodate the railway transformation in BGC. The MMSP, which is the country's first underground railway project, will connect BGC to Ninoy Aquino International Airport and is co-funded by Japan at a cost of P488.5 billion. SSECC President and CEO Ana Ma. Margarita Dy expressed her company's commitment to reinventing and modernizing Market! Market! for its next act.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
