PHILIPPINES — The Bases Conversion and Development Authority and Ayala Land Inc.-led Station Square East Commercial Corporation have finalized a ₱1-billion modernization program for Market! Market! in Bonifacio Global City. The agreement includes a 12-year and seven-month lease extension beginning June 5, 2027, positioning the property as an integrated retail and mobility hub.
A Renewed Vision for an Iconic Destination
The signing ceremony was led by BCDA President and CEO Joshua M. Bingcang and Ayala Land President and CEO Anna Ma. Margarita B. Dy. Also present were Ayala Land Chairman Jaime Augusto Zobel de Ayala, Senior Vice President Mariana Zobel de Ayala, and BCDA officials.
Meean B. Dy, chairman of SSECC, described the investment as a commitment to reinventing the commercial center for its next chapter. She emphasized that renewal means looking again at existing places and understanding how cities and communities have changed around them.
Integrating Retail with Mass Transit
The modernization prepares Market! Market! for integration with the Metro Manila Subway Project, which will include the Bonifacio Global City Station within the property. This direct rail link will connect BGC to key gateways including the Ninoy Aquino International Airport.
BCDA's transit-oriented development plans will repurpose a portion of the Central Plaza to support this integration. Bingcang said the partnership aims to build a seamless, future-ready urban center that truly serves the public. He noted that Market! Market! has long been an accessible bridge connecting Filipinos to opportunities within BGC.
From Convergence Square to Modern Hub
Market! Market! traces its roots to Ayala Land's original 2000 master plan for Convergence Square, a mixed-use concept built around retail, public transit, and civic space. More than two decades later, that vision is being realized through the subway station and transit-oriented development.
The reinvestment reflects Ayala Land's strategy of strengthening key assets to drive long-term value. It also supports the administration's Build Better More agenda for modern mass transit and sustainable urban growth. The project aligns public-sector asset management with private-sector investment.
Positioning for BGC's Next Growth Phase
The partnership comes as BGC prepares for a major expansion of its mass transit network. The subway station within Market! Market! will transform the property into an essential intermodal mobility hub, bringing together rail, road, commerce, and everyday life.
From its beginnings as a pioneering commercial center, Market! Market! is positioned to enter its next chapter as a fully integrated retail, mobility, and community destination. The modernization aims to create even more value for the next generation of Filipinos.
