Rockwell Land Acquires Additional P6.2-B Stake in Alabang Town Center Owner, Raising Holding to 99.26%
Key Takeaways
- •Rockwell Land Corp. increased its ownership in Alabang Commercial Corp. to 99.26% by acquiring an additional 22.96% stake for P6.2 billion.
- •The company's total investment in ACC now stands at approximately P27.8 billion, including a prior P21.6-billion transaction completed earlier in 2025.
- •ACC holds the 17.5-hectare Alabang Town Center property in Muntinlupa City, one of southern Metro Manila's longest-established shopping destinations.
- •Rockwell Land has appointed architect Carlos Ott and local firm PRSP to develop a master plan for a five- to ten-year redevelopment of ATC into a suburban lifestyle destination.
- •Shares of Rockwell Land declined 1.95% to close at P2.52 each on the day of the disclosure.
Rockwell Land Corp. has increased its ownership in Alabang Commercial Corp. (ACC) to 99.26%, securing near-full control of the entity that owns the Alabang Town Center (ATC) property and oversees its long-term redevelopment.
In a disclosure filed on Thursday, the Lopez family-led property developer said it had signed share purchase agreements with most of ACC's remaining shareholders to acquire shares representing 22.96% of the company's outstanding capital stock for P6.2 billion.
The transaction raises Rockwell Land's stake in ACC from 76.3% to 99.26%, consolidating its control over the company that holds the 17.5-hectare ATC property in Muntinlupa City. The acquisition brings Rockwell Land's combined investment in ACC to approximately P27.8 billion, based on the latest purchase price and its earlier P21.6-billion transaction.
The deal follows Rockwell Land's earlier acquisition of a 74.8% stake in ATC in 2025 for P21.6 billion, representing another significant move in its strategy to deepen its footprint in southern Metro Manila's retail and mixed-use property market. The acquisition also extends Rockwell Land's portfolio beyond its flagship Rockwell Center in Makati, adding one of southern Metro Manila's longest-established shopping destinations to its asset base.
Rockwell Land said it will proceed with implementing its redevelopment plans for ATC following the latest purchase. In June, the company announced that it had commenced the property's long-term redevelopment, with initial priorities including improvements to traffic flow, parking capacity, and tenant mix as part of an effort to reposition ATC as a suburban lifestyle destination over a five- to ten-year horizon. The redevelopment aligns with a broader trend among Philippine property developers upgrading legacy retail assets to remain competitive against newer mixed-use developments across Metro Manila.
"Over the next five to 10 years, the long-term vision is to restore the old charm while evolving ATC into a more vibrant and experiential lifestyle destination," the company said.
Rockwell Land has appointed international architect Carlos Ott and local architectural firm PRSP, led by architect Jun Rodriguez, to develop the property's master plan.
The developer said the increased ownership stake will support the ATC redevelopment and further strengthen its portfolio of premium integrated developments.
Shares of Rockwell Land declined 1.95% to close at P2.52 each on Thursday. — Alexandria Grace C. Magno