UPSCALE property developer Ayala Land Inc. (ALI) will be spending P13 billion for a makeover of its flagship shopping centers to meet the needs and preferences of the "new era."

"We have Glorietta, Greenbelt 2, TriNoma and Ayala Center Cebu. For these four malls, we're investing P13 billion in these enhancements," Mariana Zobel de Ayala, ALI senior vice president and Ayala Malls president, told a media briefing on Thursday.

"This is the first time in our history that we will embark on renovating at least four of our major flagship malls [all] at once," she continued.

Greenbelt 1, meanwhile, will be closed beginning this April to make way for renovations that are targeted to be completed by 2028.

Works at Glorietta, Greenbelt 2, TriNoma and Ayala Center Cebu are also set to begin this first quarter and continue through 2026.

"The redevelopment will unleash the full potential of the malls' retail spaces, enhance areas for convergence and create spaces that challenge Ayala Malls retailers to bring their best to the Filipino consumer," the ALI executive said.

Ayala Malls has engaged global design consultants — Australia-based Buchan, Hong Kong's CAN Design Ltd. and United States-based Gensler — for the makeover of its premier shopping centers.

"We really want to make sure that ... each destination represents a specific identity and personality, and that's anchored by the market that we want to serve as well," Zobel de Ayala said.

"What motivates us in all that we do is the opportunity to build spaces that people love."

Last month, Zobel de Ayala said renovations will be completed "in phases" to ensure minimal disruptions to tenants and clients "as we still welcome them to the mall."

Ayala Land's share price was down 20 centavos at P34.70 on Thursday.

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