It’s Official: Rockwell Land is Taking Control of Alabang Town Center for P21.6 Billion

Rockwell Land has acquired a controlling interest in the company that owns and operates the sprawling Alabang Town Center in Muntinlupa City, expanding its footprint south of Metro Manila.

In a disclosure to the Philippine Stock Exchange on Monday (December 22) Rockwell Land announced that it has purchased a 74.8 percent stake in Alabang Commercial Corporation (ACC) for P21.6 Billion. The share purchase agreement was signed between Rockweel Land and Francisco M. Bayot, Jr. and other shareholders of ACC.

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Rockwell Land said it will pay the P21.6 billion in three equal installments due on or before December 22, 2025, December 15, 2026 and December 15, 2027.

According to the Lopez-owned Rockwell, the acquisition presents an opportunity for the company to “expand its footprint in a prime location with long term redevelopment opportunities.

“The existing assets of ACC will add 137,000 sqm of gross leasable area to ROCK's existing retail and office portfolio, representing a 58 percent growth,’ the company said in the disclosure.

The announcement comes about a week after Ayala Land announced that it was selling its 50 percent stake in ACC to its joint venture partner, the Madrigal family, for P13.5 billion. At the time, Ayal Land said the sale “provided a premium, allowing ALI to recognize gains from the sale and monetize its stake in Alabang Town Center.”

With around 138,000 square meters of gross leasable space, Alabang Town Center is one of the largest and most popular mixed use retail properties south of Metro Manila. It opened in 1982 as a strip-mall serving the rapidly growing Ayala Alabang community and steadily expanded over subsequent decades into a full-service lifestyle center.

Rockwell Land, meanwhile, is a listed real estate development company that operates both residential and commercial projects. It is perhaps best-known for its Rockwell Center in Makati City, although it has locations in areas such as Pasig City, Quezon City, Laguna, Batangas, Bulacan, and many others.

In the first nine months of 2025, Rockwell reported a net income of P3.117 billion from gross revenues of P14.996 billion, up from P2.8 billion and P14.018 billion from the same period last year.