Rockwell Land Corporation – the developer of Rockwell Center in Makati – strengthened its ownership of Alabang Town Center (ATC) by sealing a P6.2 billion deal with the Madrigal family to acquire the remaining stake in the mall operator Alabang Commercial Corp. (ACC), according to a news report by the Manila Bulletin. The ATC will be redeveloped over a number of several years.
For previous developments about Rockwell and its acquisition related to ATC and ACC, click here, here and here.
To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…
Lopez-led Rockwell Land Corp. expanded its ownership of Alabang Town Center (ATC) to near-total control after striking a ₱6.2 billion agreement with the Madrigal family to acquire an additional 22.96 percent stake in the property’s operating entity.
In a disclosure filed with the Philippine Stock Exchange on Thursday, July 30, the property developer said it executed share purchase agreements with the majority of the remaining shareholders of Alabang Commercial Corp. (ACC)
The transaction elevates Rockwell’s total equity interest in ACC from 76.3 percent to 99.26 percent, cementing its operational dominance over the 17.5-hectare prime estate in Alabang, Muntinlupa.
The move allows Rockwell to execute an ambitious and decade-long master plan designed to modernize the suburban retail and lifestyle landmark. Following the acquisition, the company confirmed that preliminary planning is already underway. To lead the redesign, Rockwell has engaged Uruguayan-Canadian architect Carlos Ott—renowned internationally for iconic modern landmarks—alongside local architect Jun Rodriguez of PRSP.
The immediate priorities over the next two years will center on foundational operational upgrades, specifically focusing on expanding parking capacity, optimizing traffic circulation, and recalibrating the commercial tenant mix to boost retail performance.
Over a five- to 10-year horizon, Rockwell’s broader vision aims to preserve the site’s original suburban character while modernizing the venue into a high-density, experiential lifestyle and retail hub.
The deal reinforces Rockwell’s growth trajectory in 2026, building upon operational milestones across its residential, commercial, and hospitality portfolios.
Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Alabang or if you usually visit the Alabang Town Center every week, what do you feel about Rockwell’s redevelopment plans of the decades-old, high-end property? Have your favorite stores or restaurants at ATC already stopped operating recently? What do you hope to see in the ATC as the redevelopment happens over the next several years? Do you think Rockwell’s presence in Alabang will alter the entire business environment in Muntinlupa City?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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