Ayala enters Thailand market with CP AXTRA partnership

MANILA, Philippines — Conglomerate Ayala Corp. is entering Thailand through a partnership with CP AXTRA Public Co. Ltd., the operator of ASEAN’s leading wholesaler-retailer brands Makro and Lotus’s, to strengthen mall development and asset management for Makro.

Ayala’s consumer retail and mall arms, ACX Holdings Corp. and AyalaLand Malls Inc., have signed a memorandum of cooperation with CP AXTRA to enhance Makro malls in Thailand and unlock greater shared value from CP AXTRA’s mall assets nationwide.

The partnership marks the first time Ayala will bring its mall development and leasing expertise directly to CP AXTRA’s operations in Thailand.

Under the agreement, ACX and AyalaLand Malls will share methodologies and best practices in mall asset operations, leasing strategy and project development to improve operational efficiency, enhance customer experience and maximize the long-term value of CP AXTRA’s land and assets, initially focusing on seven key stores of Makro.

“Makro’s nationwide footprint gives it a meaningful role in the everyday lives of Thai consumers. Our opportunity is to help turn that everyday relevance into places people choose to stay, explore, and return to,” Mariana Zobel de Ayala, managing director and group head of leasing and hospitality of Ayala Land, said.

“By combining CP AXTRA’s market knowledge with Ayala Malls’ experience in curating retail partners, improving customer journeys and building community-oriented retail destinations, we believe these sites can become stronger platforms for shoppers, merchant partners and long-term asset growth,” she said.

The partnership is the third agreement signed between CP AXTRA and Ayala, reflecting a continued collaboration between the two groups, following their previous agreements to operate Makro in the Philippines and expand regional business opportunities.

Ayala, head of corporate strategy and business development, Mark Robert Uy, said the partnership is another milestone in the conglomerate’s growing relationship and collaboration with the CP Group.

Through this partnership, Uy said they intend to leverage the complementary strengths of two leading conglomerates to create world-class retail and real estate developments across markets.

“This also marks Ayala’s entry into the Thailand market, giving us a strong opportunity not only to share our expertise, but also to gain valuable insights from one of Southeast Asia’s most dynamic and developed retail markets. More broadly, this partnership aligns with Ayala’s strategy of bringing the best of the world to the Philippines while showcasing the best of the Philippines to the world,” he said.

CP AXTRA is one of ASEAN’s leading wholesale and retail operators, with more than 2,700 Makro and Lotus’s stores.