Published May 28, 2026 12:52pm + Add GMA on Google Make this your preferred source to get more updates from this publisher on Google. Bangkok-based CP AXTRA Public Company Limited—the operator of Makro and Lotus—has tapped the Philippines’ oldest conglomerate, Ayala Corporation, to strengthen mall development and asset management at its Makro establishments in Thailand.In a news release, CP AXTRA announced that it has signed a cooperation agreement with Ayala Corporation, where Ayala's retail and mall divisions, ACx Holdings Corporation (ACx) and AyalaLand Malls Inc. (ALMI), will share their methods and best practices for managing malls, leasing, and project development to make operations more efficient, improve customer experience, and increase the long-term value of its properties, starting with seven key Makro stores.CP AXTRA will also look into future investment opportunities with ACx and ALMI for mall and asset development in Thailand, as well as work together on new sites and updating existing CP locations.The company said it was the third agreement it signed with the Ayala Group following their previous agreements to operate Makro in the Philippines and expand regional business opportunities."This agreement with Ayala allows us to combine CP AXTRA's deep understanding of the Thai retail market with Ayala's decades of experience in developing and leasing shopping mall spaces. By applying proven methodologies to our Makro mall, we aim to elevate the standards of the retail environment we offer, not only improving the experience for our shoppers and tenants, but also fostering sustainable growth and creating long-term value for our asset and the surrounding community," said Tanit Chearavanont, group chief wholesale business officer at CP AXTRA.“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,” said Mariana Zobel de Ayala, managing director and group head of Leasing and Hospitality of Ayala Land.CP AXTRA is one of ASEAN’s leading wholesale and retail operators, with more than 2,700 Makro and Lotus stores. — VBL, GMA News