Philippine Property Market: Ayala Land Expands with Makro as CBRE Flags Peso, Inflation Risks

This week's roundup covers a major leasing partnership from one of the country's largest developers, alongside a cautious economic outlook for the broader property sector.

Mixed-use estates to boost ALI income

Ayala Land Inc. is set to grow its recurring lease income through a new tie-up with Makro Philippines, which will open wholesale stores across four of the developer's mixed-use estates: Cloverleaf in Quezon City, Broadfield in Laguna, Arca South in Taguig, and Evo City in Cavite. Ayala Land will keep ownership of the properties in Cloverleaf, Broadfield, and Evo City while Makro builds and runs the stores, and in Arca South, Makro will operate from within Ayala Malls Arca South. The deal also marks Makro's comeback to the Philippine market after roughly two decades away, with its Cloverleaf branch positioned at the busy EDSA–NLEX junction. According to Manila Times, the arrangement is expected to strengthen Ayala Land's leasing revenues across its estate portfolio.

CBRE: Weak peso, inflation weigh on property market

Property consultancy CBRE has cautioned that a slowing economy could ripple into the real estate sector, pointing to the Philippines' 2.3 percent GDP growth in the second quarter of 2026 as a possible warning sign. The firm also flagged geopolitical risk, noting that oil supply disruptions tied to the US-Iran conflict in the Strait of Hormuz—a passage critical to nearly all of the country's domestic oil supply—remain a concern amid a naval blockade and stalled negotiations. These pressures, CBRE suggests, could translate into broader headwinds for property demand and investment. According to Daily Tribune, the combination of currency weakness and inflation adds further uncertainty to the market outlook.