Iconic Greenbelt 1 mall closing in April to give way for redevelopment

The iconic Greenbelt 1, designed by national artist for architecture Leandro Locsin, will be closed and torn down in April this year to give way for its redevelopment into a more modern building.

 

Artist’s perspective of the new Greenbelt 1. The iconic Greenbelt 1, Ayala Land’s oldest mall, will be closed down in April this year to give way for the redevelopment. pic.twitter.com/XuTuQL3sLQ

— Ted Cordero (@Ted_Cordero) February 15, 2024

 

Ayala Land senior vice president and head of leasing and hospitality and Ayala Malls president Mariana Zobel de Ayala said Greenbelt 1’s redevelopment will be separate from the planned renovation of the company’s four flagship malls —Greenbelt 2, Glorietta, Trinoma, and Ayala Center Cebu.

“For Greenbelt 1, the figure is still to be refined, which means it will be separate,” Zobel de Ayala said at a press briefing in Makati City on Thursday.

Ayala Land is spending P13 billion for the redevelopment initiative of its four flagship malls. Greenbelt 1 is its oldest mall, having been constructed in the 1970s.

While the investment cost for redeveloping Greenbelt 1 is still being refined, Zobel de Ayala said the company is expecting it will be costlier than the investment for the four malls’ renovation since the entire establishment will be rebuilt after being torn down.

Ayala Malls vice president and area head for Greenbelt AC Legarda said Greenbelt 1 “will be closed by April and reopen by 2028.”

Construction is scheduled to begin in the second quarter and the target completion will be in 2028.

Legarda said the new Greenbelt 1 will have four levels of parking below and four levels of shops above as well as a visual reminder to its past.

“Greenbelt 1 is co-developed with national artist Locsin… so we will integrate aspects of old Greenbelt 1,” Legarda shared. —RF, GMA Integrated News