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Ayala Corporation

Ayala Corporation (, formerly Ayala y Compañía; ) is the publicly listed holding company for the diversified interests of the Ayala Group. Founded in the Philippines in 1834 by Domingo Ureta Roxas and Antonio de Ayala during Spanish colonial rule, it is the country's oldest and largest conglomerate. The company has a portfolio of diverse business interests, including investments in retail, education, real estate, banking, telecommunications, water infrastructure, renewable energy, electronics, information technology, automotive, healthcare, management, and business process outsourcing.

As of 2024, it is ranked by Forbes Global 2000 as the 5th largest corporation in the Philippines, and the 7th largest according to Fortune Southeast Asia 500 in terms of annual revenue.

History

Established in 1876, Ayala y Compañía traces its origins to Casa Róxas, a partnership founded in 1834 by Domíngo Ureta Róxas and Antonio de Ayala. The enterprise began with Ayala Distillery (originally Destileria y Licoreria de Ayala y Compañía) the producer of Ginebra San Miguel. The distillery was later acquired by Carlos T. Palanca-owned La Tondeña, Inc. in 1929.

In 1888, the company introduced the first tramcar service in the Philippines. The company participated in the construction of the Ayala Bridge over the Pasig River in Manila. Originally built of wood in 1872, the bridge was reconstructed in steel in 1908 to become the first steel bridge in the Philippines.

Under the leadership of Colonel Joseph Ralph McMicking - who was married to Mercedes Roxas Zobel-McMicking the company was also responsible for the urban development of Makati after World War II.

Ayala y Compañía shifted from a partnership to a corporation with the establishment of Ayala Corporation in 1968. It welcomed the minority investment of Mitsubishi Corporation as its strategic partner in 1973 -1974. The Ayala Corporation later became a public company in 1976.

In 2011, the Ayala Corporation began building its renewable energy portfolio, beginning with a joint venture with Mitsubishi for solar power and Sta. Clara Power for run-of-the-river hydro power, and the purchase of the iconic Northwind farm for wind power. Ayala will contribute 1000 MW to the Philippine power supply by 2015. FinanceAsia named Ayala Corporation as the best-managed company in the Philippines in 2010 and 2015, as well as Best for Corporate Governance and Best for Corporate Social Responsibility.

Attached companies and investments

Real estate

  • Alveo Land
  • Ayala Land Inc.
  • AyalaLand Logistics Holdings Corp. (ALLHC)
  • Ayala Malls
  • Makati Development Corp. (MDC)
  • AG Holdings, Ltd.
  • Avida Land
  • Amaia Land
  • Bellavita
  • Portico Land Corp. - joint venture with Mitsubishi Corporation
  • Roxas Land Corp. - joint venture with Bank of the Philippine Islands and Hongkong Land
  • Regent Wise Investments Limited
  • MCT Consortium Berhad (32.95% ownership, based in Malaysia)
  • Ortigas & Company Limited Partnership - Since November 2014, Ayala and SM Prime Holdings ended their dispute over the ownership of OCLP Holdings, the parent of Ortigas & Company. Ayala has recently sealed a deal with a group led by Ignacio Ortigas for the development of the Ortigas family's land bank area.
  • Trident Infrastructure and Development Corporation (TIDC) - Formerly known as "Team Trident" and "the super consortium", is a joint-venture between Aboitiz Equity Ventures, Inc. (AEV), Ayala Land Inc. (ALI), Megaworld Corporation (MEG) and SM Prime Holdings, Inc. (SMPH). It is aimed to develop the Laguna Lakeshore Expressway and Dike Project (LLEDP).
  • Ayala-GT Capital - In May 2015, through Ayala's Alveo Land and GT Capital's Federal Land, the two corporations will develop a 45-hectare property in Biñan, Laguna, aimed towards mid-range and high-end markets.

Financial services

Telecommunications

Utilities

<small> (only economic interests remain until 2029 - control handed over to Enrique K. Razon's Trident Water Holdings Company, Inc.) </small>

Power and transport

Manufacturing and automotive

  • AC Industrial Technology Holding, Inc. (AC Industrials)
  • Integrated Micro-Electronics, Inc. (IMI)
  • Honda Cars Philippines, Inc. (discontinued, January 1, 2026)
  • Isuzu Automotive Dealership, Inc.
  • Isuzu Philippines Corporation (IPC) (owns 15%)
  • Volkswagen Philippines (discontinued, September 30, 2025)
  • Maxus Philippines, Inc (discontinued, August 2025)
  • Kia Philippines, Inc
  • BYD Auto Philippines
  • Adventure Cycle Philippines, Inc. (KTM Philippines)
  • ACI Solar Holdings North America
  • Merlin Solar Technologies Inc.
  • AC Industrials Singapore
  • Misslbeck Technologies GmbH

Social infrastructure

  • AC Health | Ayala Healthcare Holdings, Inc. (AC Health)
  • Healthway Medical Network - Hospitals and clinics network that includes the Healthway Multi-Specialty Clinics, QualiMed Group of Hospitals, FEU Nicanor Reyes Medical Foundation, Healthway Cancer Care Hospital, and Healthway Cebu Velez General Hospital
  • Generika Drugstore
  • I.E. Medica Inc.
  • MedEthix Inc.
  • Ayala Education, Inc. (AEI)
  • University of Nueva Caceres - Ayala Education's flagship University
  • Affordable Private Education Center, Inc. (APEC Schools) - a joint venture between the Ayala Corporation and Pearson PLC's Affordable Learning Fund (Pearson ALF). It promotes affordable but high-quality education.
  • Professional Employment Program (PEP)
  • National Teacher's College (33%)

Nonprofit organizations

  • Ayala Foundation
  • CENTEX
  • Ayala Museum
  • Philippine Development Foundation
  • Ayala Technology Business Incubator
  • Filipinas Heritage Library
  • Ayala Social Initiatives

Business process outsourcing, Logistics and Digital businesses

  • AC Logistics
  • Glacier Megafridge
  • LiveIt Investments, Ltd.
  • Affinity Express
  • HRMall
  • Zalora Philippines

Divestments

Retirement of Jaime P. Zóbel de Ayala, I

In January 2006, the board of directors publicly announced the decision by Jaime P. Zóbel de Ayala, I to retire as chairman of the corporation by April 2006. The board also announced his appointment as chairman emeritus upon his retirement. His eldest son, Jaime Augusto M. Zóbel de Ayala, II, succeeded him as chairman and chief executive officer, while his younger son, Fernando M. Zóbel de Ayala, has assumed the position of president and chief operating officer. The Zóbel de Ayala family's holding company, Mermac, Inc., continues to hold the controlling stake (49%) in Ayala Corporation.

References

External links