ROCKWELL LAND CORP. has raised its stake in Alabang Business Corp. (ACC) to 99.26%, giving the property developer near-full control of the corporate behind the long-term redevelopment of Alabang Town Center (ATC).
In a disclosure on Thursday, the Lopez family-led developer said it had signed share purchase agreements with most of ACC’s remaining shareholders to accumulate shares representing 22.96% of the corporate’s outstanding capital stock for P6.2 billion.
The transaction increases Rockwell Land’s ownership in ACC from 76.3% to 99.26%, strengthening its control over the corporate that owns the 17.5-hectare ATC property.
The acquisition follows Rockwell Land’s purchase of a 74.8% stake in ATC in 2025 for P21.6 billion, marking one other step in its technique to expand its presence in southern Metro Manila’s retail and mixed-use property market.
Following the most recent acquisition, Rockwell Land said it is going to proceed implementing its redevelopment plans for ATC.
In June, the corporate said it had begun the property’s long-term redevelopment, initially specializing in improving traffic flow, parking capability, and tenant mix because it seeks to reposition ATC right into a suburban lifestyle destination over the following five to 10 years.
“Over the following five to 10 years, the long-term vision is to revive the old charm while evolving ATC right into a more vibrant and experiential lifestyle destination,” the corporate said.
Rockwell Land has tapped international architect Carlos Ott and native architectural firm PRSP, led by architect Jun Rodriguez, to organize the property’s master plan.
The corporate said the upper ownership stake will support the redevelopment of ATC and strengthen its portfolio of premium integrated developments.
Shares in Rockwell Land fell 1.95% to P2.52 apiece on Thursday. — Alexandria Grace C. Magno