Rockwell Land Corp. has raised its stake in Alabang Commercial Corp. (ACC) to 99.26% through a P6.2-billion deal, giving the property developer near-full control of the company overseeing the long-term redevelopment of Alabang Town Center, according to a disclosure by the Lopez family-led firm. BusinessWorld reported that Rockwell signed share purchase agreements with most of ACC’s remaining shareholders.
The increased ownership allows Rockwell to consolidate its position in Alabang Town Center, a major retail and lifestyle hub in Muntinlupa City. The move aligns with Rockwell’s strategy to expand its commercial portfolio beyond its flagship Rockwell Center in Makati.
With nearly full control, Rockwell can accelerate redevelopment plans for Alabang Town Center, which has undergone a multi-phase transformation to include new retail spaces, offices, and residential components. The transaction underscores Rockwell’s confidence in the long-term growth of the Alabang area.