For the newcomers reading this, the ACCC is the private entity that owns and operates ATC. Rockwell Land is the corporation known for the Power Plant Mall and Rockwell Center in Makati City. The Philippine Star news report mentions the ATC operator in the new acquisition.
The front of Alabang Town Center along Madrigal Avenue.
To put things in perspective, posted below is the excerpt from the business news report of BusinessWorld. Some parts in boldface…
Lopez Family-led real estate developer Rockwell Land Corp. has acquired a 74.8% stake in the 17.5-hectare Alabang Town Center for P21.6 billion, expanding its commercial operations in the south.
“Earlier this year, Mr. Francisco ‘Jun’ M. Bayot invited us to consider redeveloping Alabang Town Center. It presented a compelling opportunity for Rockwell Land to further expand our presence in the south of Metro Manila, particularly given the scale and long-term potential of the property,” said Rockwell Land Chief Executive Officer Nestor J. Padilla in a statement on Monday.
“We are very grateful to Mr. Bayot and the Madrigal family for this opportunity. Our immediate focus is on ensuring a smooth transition and planning its redevelopment,” he added.
Alabang Town Center currently hosts more than 500 retail and office tenants, and its size offers significant redevelopment opportunities, the company said. Rockwell Land is known for its flagship mixed-use development, Rockwell Center Makati, anchored by the Power Plant Mall.
“Over the years, the company has enhanced its retail developments by integrating experiential and lifestyle-oriented spaces into its master planning, supported by curated tenant mixes. These efforts have enabled Rockwell Land to establish a strong track record in delivering a high-end retail experience,” it said.
Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, do you have any concerns about what would happen to Alabang Town Center under Rockwell’s control? Do you think the planned redevelopment of ATC will eventually make it better in the near future? What improvements do you hope to see at the ATC under Rockwell’s control?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
A new age for the famous Alabang Town Center (ATC) in Muntinlupa City will soon begin as the developer Ayala Land Inc. (ALI) will sell its 50% stake in Alabang Commercial Center Corp. (ACCC) to the Madrigal family in a deal with P13.5 billion, according to a Manila Bulletin business news report.
For the newcomers reading this, the ACCC is the private entity that owns and operates ATC. Already, it has been reported that the Madrigal family is talking with Rockwell Land Corp. about redeveloping the high-end Alabang mall.
The front of Alabang Town Center along Madrigal Avenue.
To put things in perspective, posted below is the excerpt from the business news report of the Manila Bulletin. Some parts in boldface…
Ayala Land, Inc. (ALI) has agreed to sell its 50 percent stake in Alabang Commercial Center Corp. (ACCC), the entity that owns and operates the prominent Alabang Town Center mall in Muntinlupa City, back to the Madrigal family for ₱13.5 billion.
The real estate giant announced in a disclosure to the Philippine Stock Exchange that it executed a share purchase agreement with its existing joint-venture partner. The transaction is contingent on standard closing conditions.
“The unsolicited offer from our joint venture partner provided a premium, allowing ALI to recognize gains from the sale and monetize its stake in Alabang Town Center,” said ALI Chief Finance Officer and Treasurer Jose Eduardo A. Quimpo II.
He added that the “Proceeds from the sale will fuel further growth in our Leasing portfolio and provide our stakeholders with return of capital.”
In a separate statement, ALI said the deal allowed the company to realize “compelling value for the mature asset, crystallizing future earnings potential today.”
“This move is a deliberate execution of Ayala Land’s strategy to be a premier creator of value,” the company said. “It showcases a disciplined approach of developing assets, stabilizing their operations, and monetizing them at an optimal valuation to aggressively fund future growth and enhance shareholder returns.”
ALI President and Chief Executive Officer Meean B. Dy noted the firm’s strategic focus.
“Our strategy is focused on a dynamic cycle of value creation. We build, we stabilize, and we unlock value at the right time to fuel our next wave of innovation,” Dy said.
“This transaction is a prime example of that strategy in action. We are monetizing a legacy asset at peak valuation to accelerate the rollout of our expansive pipeline of commercial and retail spaces, which will define the Ayala brand of development for the next decade,” he added.
The proceeds from the sale are slated to be a key driver in funding ALI’s leasing pipeline, which includes nearly 700,000 square meters of new gross leasable area (GLA) over the next five years. This expansion is set to transform the commercial landscape in key growth centers across the Philippines.
Chinabank Capital Corp. Managing Director Juan Paolo Colet described the deal as “an opportunistic transaction that enabled Ayala Land to exit their joint venture with the Madrigal family at an attractive price. The company can readily use the cash for various projects in its growth pipeline.”
Colet noted that the future plans for the property remain uncertain.
“It remains to be seen what the Madrigal family will do with their prime commercial property. Given the price they paid, they would need to unlock more value from the asset. A major redevelopment might be on the table,” he said.
Situated adjacent to exclusive gated residential communities and active business developments, Alabang Town Center serves as a community anchor with multiple al fresco areas that contribute to a relaxed, homey atmosphere consistent with the local lifestyle.
Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City, do you think the P13.5 billion deal will lead to a major redevelopment of Alabang Town Center in the near future? If you have visited the ATC before, how often do you visit the high-end shopping mall in Alabang? Do you feel confident the ATC will evolve and possibly expand under the control of the Madrigal family and Rockwell Land? Does Alabang Town Center’s current design and structure look old or outdated to you?
For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673
Ever since it was first announced, the stakeholders behind the Xbox-Activision-Blizzard-King deal worth almost $70 billion went through lots of hurdles that include opposition by Sony’s PlayStation division, a trial with America’s Federal Trade Commission (FTC) and a rejection by the United Kingdom’s regulator Competition and Markets Authority (CMA).
The obstacles are over as the Xbox-Activision-Blizzard-King deal recently closed and already the Activision side of the business has officially started integrating into Microsoft. This deal is many times larger than the Xbox-Bethesda acquisition of a few years ago. Watch the related video by Team Xbox below…
Xbox chief Phil Spencer issued a statement related to the newly closed deal. To put things in perspective, posted below is an excerpt from his statement published through Xbox.com. Some parts in boldface…
We love gaming. We play games, create games, and know first-hand how much gaming means to all of us as individuals and collectively, as a community. And today, we officially welcome Activision Blizzard and their teams to Xbox. They are the publishers of some of the most played and most beloved franchises in gaming history across console, PC and mobile. From Pitfall to Call of Duty, World of Warcraft to Overwatch, Candy Crush Saga to Farm Heroes Saga, their studios have pushed the boundaries of gaming for players around the world.
I’ve long admired the work of Activision, Blizzard, and King, and the impact they’ve had on gaming, entertainment, and pop culture. Whether it was late nights spent playing the Diablo IV campaign with friends from start to finish, gathering the entire family in the rec room for our weekly Guitar Hero night, or going on an epic streak in Candy Crush, some of my most memorable gaming moments came from experiences their studios have created. It is incredible to welcome such legendary teams to Xbox.
As one team, we’ll learn, innovate, and continue to deliver on our promise to bring the joy and community of gaming to more people. We’ll do this in a culture that strives to empower everyone to do their best work, where all people are welcome, and is centered on our ongoing commitment of Gaming for Everyone. We are intentional about inclusion in everything we do at Xbox – from our team to the products we make and the stories we tell, to the way our players interact and engage as a wider gaming community.
Together, we’ll create new worlds and stories, bring your favorite games to more places so more players can join in, and we’ll engage with and delight players in new, innovative ways in the places they love to play including mobile, cloud streaming and more.
Players have always been at the center of everything we do. And as we grow, we’ll continue to keep players at the heart of it all. We’ll continue to listen to your feedback, build a community where you can be yourself, where developers can do their best work, and continue to make really fun games. As promised, we will also continue to make more games available in more places – and that begins now by enabling cloud streaming providers and players to stream Activision Blizzard games in the European Economic Area, a commitment made to the European Commission. Today we start the work to bring beloved Activision, Blizzard, and King franchises to Game Pass and other platforms. We’ll share more about when you can expect to play in the coming months. We know you’re excited – and we are too.
For the millions of fans who love Activision, Blizzard, and King games, we want you to know that today is a good day to play. You are the heart and soul of these franchises, and we are honored to have you as part of our community. Whether you play on Xbox, PlayStation, Nintendo, PC or mobile, you are welcome here – and will remain welcome, even if Xbox isn’t where you play your favorite franchise. Because when everyone plays, we all win.
For their part, Activision Blizzard issued its own statement related to the biggest deal in video gaming with Microsoft. They are looking forward to the future of gaming with Team Xbox. Posted below is an excerpt from their statement with some parts in boldface…
It’s a big day for us at Activision Blizzard. For more than four decades, our players have inspired us to push the boundaries of imagination with iconic universes including Call of Duty, Candy Crush Saga, Crash Bandicoot, Diablo, Overwatch, and Warcraft.
Today we begin a new chapter as we officially become a part of the Microsoft family, uniting with the amazing Xbox team and co-creating the future of gaming together.
In our earliest days we were a modest collective of designers who raided rivers, commanded choppers, and avoided pitfalls. Now as part of Xbox, we will continue our mission to deliver the world’s most epic interactive entertainment experiences to more people, more platforms, and across more worlds than ever before.
All of our history and success leading to this moment is because of you, our incredible gaming community.
Unsurprisingly, the approved Xbox-Activision-Blizzard-King deal made tremendous waves through social media and through YouTube. Watch and learn from the videos below starting with an interview with Activision Blizzard’s Bobby Kotick (note: pay close attention to his words)…
The Xbox-Activision-Blizzard-King deal is not just another multi-billion Dollar business breakthrough…it is a tremendous boost for the credibility of Xbox as a video gaming, PC gaming, cloud gaming and mobile gaming entity.
While it is made clear that Microsoft-controlled ABK will still release games on multiple platforms, the new owners can make the new and upcoming games Xbox-exclusive (meaning released only on Xbox Series X, Xbox Series S, Windows PC plus cloud and mobile devices which collectively are more numerous than Nintendo and PlayStation consoles). For insights about potential Xbox-exclusive Activision Blizzard games, watch Colteastwood’s video below…
More on exclusivity that include games, DLC releases and other matters, it is clear that the pre-existing contracts between PlayStation and Activision will never be renewed (read: PlayStation is no longer the home of Call of Duty). PlayStation, whose leader Jim Ryan has been so arrogant and dishonest when opposing the Xbox-Activision-Blizzard-King deal, will have a lot to worry about on the gaming subscription side of business once Activision Blizzard games get added into the Xbox Game Pass (XGP) service some time in 2024. As much as Team Xbox and Microsoft are benefiting from this mega deal, gamers across different platforms will eventually benefit as well in various ways. Expect new customer-oriented choices to be made through the games under Xbox’s banner.
As of this writing, Xbox fans are rejoicing over the closed Xbox-Activision-Blizzard-King deal while PlayStation fanboys cannot help but agonize with anger and jealousy. All you have to do to see the PS fanboys’ anguish is search for them on social media over their collective negative reactions. The “Xbox has no games” zealots are looking and feeling bad nowadays. Indeed, things are working in Team Xbox’s favor and I personally cannot wait to see the benefits of the ABK deal get realized in my gaming experience. Also there is nothing like seeing ABK’s established franchises like Call of Duty, StarCraft, Warcraft and many others listed with Xbox’s own franchises such as Halo, Forza Motorsport, The Elder Scrolls, Starfield, Fallout and others.
Personally, I look forward to playing Call of Duty, Crash Bandicoot (a game property that started on PlayStation) other Activision titles on my Xbox Series X console through my Xbox Game Pass subscription in the near future.
Author Carlo Carrasco 