Ayala Land Inc. (ALI) has confirmed that it is in the early stages of planning a “unique” project for the iconic ABS-CBN property it acquired in Quezon City for ₱6.2 billion, but details remain under wraps.
ALI President and CEO Anna Ma. Margarita Dy described the purchase of the 30,000-square-meter portion of the media giant’s compound as a strategic move. While no timeline has been set, Dy said the goal is to build something distinct that complements the bustling district.
“We would like to make something unique in that area, given it’s quite a busy area and there are a few other developments there,” Dy told reporters. She added that Ayala Land, which already holds over 10,000 hectares of banked land, is only pursuing selective acquisitions. “If there are strategic purchases in areas we feel we don’t have enough inventory, we would make acquisitions.”
The sold portion reportedly includes major facilities such as the Dolphy Theater and the ‘It’s Showtime’ studio. Concerns have been raised over the future of the Dolphy Theater, with actor-director Eric Quizon expressing dismay and requesting that certain memorabilia be preserved.
ABS-CBN said the sale proceeds will go toward settling bank loans, as the network continues to recover from the effects of losing its broadcast franchise. In 2024, it managed to cut its net losses in half to ₱6.1 billion, mainly by reducing production costs.
For now, the ABS-CBN property is in the conceptual phase. But with ALI’s proven track record in transforming urban spaces, the public is watching closely to see what will rise from the country’s most recognizable addresses.
