Ayala Land Secures Lease Extension for Market! Market! Until 2040 with Billion-Peso Upgrade

The Bases Conversion and Development Authority extended the lease of Market! Market! for an additional 12 years and seven months, pushing the expiry date to January 2040. The extension applies to Station Square East Commercial Corporation, the Ayala-led entity that operates the mall.

Ayala Land announced a P1 billion investment to refurbish the complex and prepare it for integration with the Metro Manila Subway, whose Bonifacio Global City station will be located within the property. The mall, which opened in September 2004, originated from Ayala’s 2000 master plan for a mixed-use district and has become a long-standing commercial hub in the district. BCDA’s transit-oriented development plan will also convert a portion of the Central Plaza into a transport hub linking rail, road, retail and offices.

Ayala’s president and CEO Anna Ma. Margarita “Meean” Dy described the project as a renewal that adds value for future generations, while BCDA chief Joshua Bingcang said the subway integration will keep the mall a gateway to BGC. No specific breakdown of the renovation costs or construction schedule was provided.