Refreshed Alabang Town Center? What shoppers can expect now that Rockwell has near-full control.
MANILA, Philippines – Regulars of Alabang Town Center should expect the first changes under Rockwell Land to be practical rather than dramatic, including better parking, improved traffic circulation, and a refreshed mix of stores and restaurants.
Rockwell said it acquired another 22.96% of Alabang Commercial Corporation (ACC), the company that owns and operates the 17.5-hectare complex, for P6.2 billion. The purchase bumps up Rockwell’s stake from 76.3% to 99.26%, effectively giving the developer almost complete ownership of the mall and the wider property.
The latest transaction will be paid in three equal installments every July from 2026 to 2028, acording to a stock market disclosure by Rockwell Land on Thursday, July 30.
For shoppers, the company’s stated plans suggest that Alabang Town Center will not be remade overnight. Over the next two years, Rockwell intends to prioritize parking, circulation around the property, and the tenancy mix.
The bigger transformation is expected to unfold over five to 10 years. Rockwell has commissioned Uruguayan architect Carlos Ott and Filipino architect Jun Rodriguez of PRSP Architects to draw up a master plan that aims to “to restore the old charm while evolving ATC into a more vibrant and experiential lifestyle destination.”
Rockwell has not yet disclosed a detailed construction schedule, though signs in the complex state that starting August, parts of The Street will be temporarily closed.
Known fondly to generations of Southies as ATC or just Town, Alabang Town Center opened in 1982 and now houses more than 500 retail and office tenants. Its sprawling, low-rise design, open-air walkways, and landscaped spaces have long set it apart from the larger enclosed malls that later came to dominate Metro Manila.
The change in ownership began in December 2025, when Ayala Land sold its 50% interest in ACC to its partner shareholders for P13.5 billion. Days later, Rockwell agreed to acquire a nearly 75% controlling stake from the Madrigal family for P21.6 billion, also payable in three equal installments.
Rockwell is best known for Rockwell Center in Makati, anchored by Power Plant Mall, and has built its brand around premium mixed-use communities with curated retail and dining offerings. It has also been expanding outside Makati, including projects in Cebu, Pampanga, Bacolod, Batangas, and Mactan.
Its 2026 milestones include the handover of Aruga Resort and Residences–Mactan, the topping off of Power Plant Mall Angeles, and what the company described as “strong market reception” for Cabo San Diego, its beach community in Lian, Batangas.
Rockwell Land earned a record P5.3 billion in consolidated net income in 2025, up 29%, while revenues rose 4% to P20.9 billion. Profit attributable to the parent company reached P4.7 billion, partly boosted by a P700-million one-time gain from its initial acquisition of Alabang Commercial Corporation.
In the first quarter of 2026, revenues climbed 45% to P6.45 billion, while profit attributable to the parent rose 67% to P1.29 billion. – Rappler.com
