TAGUIG CITY — The Bases Conversion and Development Authority (BCDA) and Ayala Land-led Station Square East Commercial Corporation (SSECC) have finalized a 12-year lease extension for Market! Market!, securing about ₱1 billion in private-sector investment for the redevelopment of the Bonifacio Global City (BGC) commercial center and its multimodal transport facilities.
The agreement supports BCDA’s Transit-Oriented Development (TOD) strategy as BGC prepares for greater integration with Metro Manila’s mass transportation network.
Market! Market! has been designated as the site of the Bonifacio Global Station of the Metro Manila Subway Project, which is expected to link BGC with major gateways, including the Ninoy Aquino International Airport (NAIA).
As part of the redevelopment, a portion of the mall’s Central Plaza will also be upgraded to improve intermodal connectivity and facilitate smoother transfers among different modes of transportation.
“Today, as we extend our lease agreement with Ayala Land, we are renewing a trust that has weathered two decades of change. We are choosing to build the next chapter on a foundation that has already proven its strength,” BCDA President and CEO Joshua M. Bingcang said.
Bingcang led the signing with Ayala Land Inc. President and CEO Anna Ma. Margarita B. Dy.
The ceremony was witnessed by ALI Chairman Jaime Augusto Zobel de Ayala, Senior Vice President and Head of Leasing and Hospitality Management Mariana Zobel de Ayala, ALI Senior Vice President and Head of Strategic Growth and New Ventures Robert S. Lao, BCDA Executive Vice President and COO Atty. Gisela Z. Kalalo, and BCDA Director Dante V. Liban.
The reinvestment forms part of Ayala Land’s strategy to strengthen key assets and generate long-term value while supporting the administration’s “Build Better More” infrastructure agenda.
For BCDA, the extended lease and planned upgrades position Market! Market! for a new role beyond retail—as an integrated mobility, commercial and community hub supporting BGC’s continued growth and its transition toward a more connected, transit-oriented urban center.