Rockwell Takes Near-Full Control of Alabang Town Center, Plans Phased Refresh

MANILA, Philippines – Regulars of Alabang Town Center (ATC) can expect practical, rather than dramatic, changes as Rockwell Land takes near-full control of the sprawling 17.5-hectare complex. Rockwell has acquired an additional 22.96% of Alabang Commercial Corporation (ACC), the owner and operator of ATC, for P6.2 billion. This acquisition bumps Rockwell’s stake from 76.3% to 99.26%, effectively granting the developer almost complete ownership. The transaction will be settled in three equal installments every July from 2026 to 2028. For shoppers, the company’s immediate plans focus on improving parking, traffic circulation within the property, and the tenant mix over the next two years. This is part of a longer-term master plan to evolve ATC into a more vibrant and experiential lifestyle destination, while preserving its distinct low-rise, open-air design and landscaped spaces that generations of "Southies" have cherished. The larger transformation is expected to unfold over five to 10 years, with Uruguayan architect Carlos Ott and Filipino architect Jun Rodriguez of PRSP Architects commissioned to draw up the master plan. ATC, which opened in 1982, currently houses over 500 retail and office tenants. The shift in ownership began in December 2025 when Ayala Land sold its 50% interest in ACC for P13.5 billion, followed by Rockwell’s agreement to acquire nearly 75% from the Madrigal family for P21.6 billion. Rockwell Land is renowned for Rockwell Center in Makati, anchored by Power Plant Mall, and has built its brand on premium mixed-use communities with curated retail and dining. The company has been expanding its footprint beyond Makati, with projects in Cebu, Pampanga, Bacolod, Batangas, and Mactan. In 2025, Rockwell Land reported a record consolidated net income of P5.3 billion, and continued its strong performance in the first quarter of 2026 with a 45% increase in revenues and a 67% rise in parent company attributable profit.