Modernization Lease extension secures private investment to upgrade established BGC commercial center and integrate it with future Metro Manila Subway

 

MANILA, Philippines — The Bases Conversion and Development Authority (BCDA) and Ayala Land Inc.-led Station Square East Commercial Corporation (SSECC) are moving forward with a Php1-billion modernization program for Market! Market!, following the finalization of a 12-year and seven-month lease extension that will support the property’s continued transformation into an integrated retail and mobility hub in Bonifacio Global City (BGC).

Under the agreement, SSECC will continue to operate Market! Market! for an additional 12 years and seven months beginning June 5, 2027, with the company committing Php1 billion in capital investment to modernize the commercial center and prepare it for integration with major mass transit infrastructure serving BGC

. “We are committed to reinventing and modernizing Market! Market! for its next act,” said Meean B. Dy, chairman of Station Square East Commercial Corporation and president and CEO of Ayala Land Inc.

“For us, renewal does not simply mean building something new. It means looking again at the places we already have, understanding how cities and communities have changed around them and investing in them so they can create even more value for the next generation.”

Positioning for next phase of BGC’s growth

The partnership brings together public-sector asset management and private-sector investment to strengthen one of BGC’s established commercial destinations while supporting the district’s evolution as a major business and mobility center.

For BCDA President and CEO Joshua M. Bingcang, the partnership extension supports its commitment to maximizing the economic and social value of government assets.

“Market! Market! has long served as an accessible bridge connecting everyday Filipinos to the opportunities within BGC. As we integrate major mobility infrastructure such as the Metro Manila Subway into this development, BCDA and Ayala Land are together building a seamless, future-ready urban center that truly serves the public,” he said.

The investment comes as BGC prepares for a major expansion of its mass transit network through the Metro Manila Subway Project, which will include the Bonifacio Global City Station within the Market! Market! property.

From ‘Convergence Square’ to TOD Hub Market! Market! traces its roots to Ayala Land’s original 2000 master plan for “Convergence Square”—a mixed-use concept designed around the intersection of retail, public transit, and civic space. More than two decades later, that original vision takes on renewed significance as the property becomes the site of the Bonifacio Global Station under the Metro Manila Subway Project, directly linking BGC to key gateways like the Ninoy Aquino International Airport (NAIA).

To support this integration, BCDA’s transit-oriented development (TOD) plans will repurpose a portion of the Central Plaza, cementing Market! Market!’s role as an essential intermodal mobility hub for the district.

“With BCDA’s transport-oriented development plans and the future Metro Manila Subway station within the property itself, Market! Market! can evolve from one of BGC’s important gateways into an even more vital point of connection—bringing together rail, road, commerce, work, and everyday life in one of Metro Manila’s most dynamic business districts,” Dy said.

The reinvestment reflects Ayala Land’s strategy of strengthening key assets to drive long-term value, while simultaneously supporting President Ferdinand R. Marcos Jr.’s “Build Better More” agenda for modern mass transit and sustainable urban growth. From its beginnings as a pioneering commercial center in BGC, Market! Market! is positioned to enter its next chapter as a fully integrated retail, mobility, and community destination at the heart of Taguig’s economic district.