Signing the agreement were (seated from the left): May Rodriguez, Project Development Regional Group Head, Ayala Land Estates; Christopher Maglanoc, Regional Estates Head, Ayala Land Estates; Shaun Wong, Deputy Chief Executive Officer, Makro International; and Mark Uy, Head of Corporate Strategy and Business Development Group, Ayala Corporation
Present at the signing were (standing from the left): Gabriel Romualdez, Business Development Manager, ACX Holdings Corporation; Gilbert Ramos, Senior Project Development Head, Ayala Land Estates; John Estacio, Senior Project Development Head, Ayala Land Estates; Sung Ho Kang, Managing Director, Makro Philippines; and Carlo Rivera, Chief Finance Officer, Makro Philippines
Ayala Land and CP Axtra bring Makro’s modern wholesale retail experience to the Philippine market
Ayala Land has signed land lease agreements with Makro Philippines for the development of new stores in four of its mixed-use estates, expanding its partnership with Thai-listed CP Axtra and bringing the wholesale brand closer to growing communities and small businesses across Luzon.
The agreements cover Cloverleaf in Balintawak, Quezon City; Broadfield in Biñan, Laguna; Arca South in Taguig City; and Evo City in Kawit, Cavite—strategically located estates along major north-south corridors and within some of the country’s fastest-growing residential and commercial markets.
The partnership reflects Ayala Land’s approach to creating greater value from its estates as they mature: bringing in complementary businesses and partners that strengthen the role of its developments as places to live, work, shop and do business, while creating additional opportunities for recurring income.
“These agreements underscore the role of Ayala Land’s estates as strategic gateways where communities, businesses and commerce come together,” said Christopher Maglanoc, Ayala Land regional estates head. “Our estates are master-planned to support the needs of growing communities, and bringing a wholesale format like Makro to these locations creates value beyond the retail customer. It also gives families and businesses within and around these estates access to a wider selection of products and a convenient large-format shopping experience.”
Strengthening strategic estate locations
The four estates give Makro access to established and emerging growth centers across Metro Manila and Southern Luzon.
Arca South, Ayala Land’s 74-hectare mixed-use estate, has emerged as a commercial and transport gateway to southern Metro Manila. Cloverleaf, located at the junction of EDSA and the North Luzon Expressway (NLEX), serves as a strategic northern gateway to the capital.
In Laguna, Broadfield is being developed as Ayala Land’s first business campus in the province, with a growing base of locators from manufacturing, logistics and business services. Evo City in Kawit, Cavite extends the partnership into one of Luzon’s rapidly urbanizing growth corridors.
Together, the four locations allow Makro to expand its presence where residential communities, businesses, and economic activity are growing, while adding new commercial anchors to Ayala Land estates.
Combining Ayala’s local platform with CP Axtra’s retail expertise
Makro Philippines is a joint venture between Ayala Corporation and CP Axtra Public Company Ltd., operator of wholesale and retail brands including Makro and Lotus’s. The partnership combines Ayala’s local market expertise and land bank with CP Axtra’s regional retail and wholesale experience.
Makro will offer fresh and dry food, imported products and non-food essentials through its physical stores and e-commerce platform, supported by an omni-channel model designed to serve both businesses and households.
“What excites me the most about this partnership is putting two businesses that are so well established independently together,” said Shaun Wong, deputy chief executive of Makro International. “The synergies that we have—the partnership on the land side and retail side as well. The future is bright. The future is exciting.”
Under the lease structure, Ayala Land will retain ownership of the properties in Broadfield, Evo City and Cloverleaf, while Makro will develop and operate the stores. In Arca South, Makro will operate within Ayala Malls Arca South.
The arrangement strengthens Ayala Land’s ability to generate recurring lease income while bringing high-traffic retail anchors into its estates, enhancing convenience and activity within these communities. It also reflects the company’s continued strategy of leveraging its land bank and partnerships to support long-term, sustainable growth.
As Ayala Land’s estates continue to evolve, the company is expanding beyond the development of individual properties to build more complete, connected destinations—working with partners whose businesses respond to the everyday needs of the communities and enterprises growing around them.
