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Goodbye Greenbelt 1: ALI shuts down mall for major redevelopment by April 1

by RepublicAsia

GREENBELT 1, designed by national artist for architecture Leandro V. Locsin, shut down on Monday, April 1, as part of the redevelopment plan of the property giant Ayala Land, Inc. (ALI). 

In a recent press conference, Ayala Malls Vice President, AC Legarda said that the 41-year-old Greenbelt 1 will be redeveloped into a luxury mall showcasing leading global retail brands. 

“We have been receiving a lot of applications from brands that we’ve never imagined would be interested in Manila,” Legarda said.

Mariana Zobel de Ayala, Ayala senior Vice President and head of leasing and hospitality, pointed out that Ayala Malls management decided on the redevelopment because of the huge increase in mall-goers from its younger counterparts, Greenbelt 3 and 4, when they were renovated.

The mall will reopen in 2028.

Other malls included in the redevelopment are Glorietta 2, TriNoma, and Ayala Center Cebu.   

Ayala Land, Inc. (ALI) said it allotted P13 billion to develop all four malls. 

“The redevelopment will unleash the full potential of the mall’s retail spaces, enhance areas for convergence and experiences, and create spaces that challenge Ayala Malls’ retailers to bring their best,” ALI said. 

The property giant said it will work with global experts such as Buchan, Gensler, and CAN Design, Ltd., for the redevelopment.

With reports from Cybil F. Castillo
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