By Manila Bulletin
Ayala Corp., the Philippines’ oldest conglomerate, signaled a more aggressive stance on regional partnerships and capital raising as it moves into 2026, following a year characterized by a pivot toward global joint ventures and specialized infrastructure funding.
The Zobel family-led holding company spent much of 2025 diversifying its portfolio through a series of alliances with international firms, aiming to leverage local market expertise against foreign capital and technical proficiency.
Cezar Consing, Ayala Corp. president and chief executive officer described the period as one of “historic firsts” driven by a strategy to create a more integrated ecosystem across the group’s various business units.
Consing noted that the firm enters the new year with a mandate to support the country’s long-term economic expansion while scaling its emerging sectors.
Retail and logistics emerged as primary drivers for the group’s expansion strategy. Ayala secured a partnership with United Arab Emirates-based supermarket operator Spinneys to launch the brand’s first locations outside the Gulf region.
The move was followed by a memorandum with Thailand’s CP AXTRA, the operator of Makro and Lotus’s, to explore co-investments in wholesale and e-commerce. This collaboration effectively facilitates the return of the Makro brand to the Philippine market, integrated within Ayala’s existing mall and retail infrastructure.
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