MANILA/DUBAI — Philippine conglomerate Ayala Corporation has entered into a joint venture with Dubai-based Spinneys to bring the UAE’s premium supermarket chain to the Philippines, with the first store set to open in late 2026.
The agreement, announced this week, marks Spinneys’ first international expansion outside the Middle East. Under the deal, Ayala will hold a 60 percent stake in the venture, while Spinneys will own 40 percent. First Lady Liza Araneta-Marcos witnessed the launch of the partnership.
The joint venture aims to roll out supermarkets in Metro Manila and other key cities, beginning with its maiden branch in the fourth quarter of 2026. Stores will be located within Ayala’s mixed-use developments, ensuring access to prime locations and integrated communities.
Spinneys will initially oversee operations and brand introduction, while Ayala is expected to gradually take on a larger role as the venture expands.
Executives from both companies said the Philippines’ rising middle class, increasing urbanization, and growing demand for premium grocery options make it an attractive market for Spinneys.
“The Philippines offers significant long-term growth potential, with strong economic fundamentals, a growing affluent population, and increasing demand for high-quality offerings,” said Sunil Kumar, CEO of Spinneys. “We’re delighted to bring our fresh and high-quality products to a new region that feels natural for us to serve, as we are proud to employ and cater to many Filipinos in our current markets.”
Ayala Corp. President and CEO Cezar P. Consing added: “We are honored to be Spinneys’ first partner as it ventures outside the GCC. We hope this investment will catalyze trade and investment between the Philippines and the GCC.”
Spinneys is owned by Al Seer Group, a UAE-based consumer holdings company with interests in food, retail, hospitality, shipbuilding, and construction across more than 20 countries.
The partnership follows a string of Ayala’s recent moves to expand its retail portfolio. Earlier this year, Ayala announced a tie-up with Thailand’s CP AXTRA to roll out Makro wholesale stores in the Philippines. It also partnered with Kmart Australia Ltd. to launch the home and lifestyle brand Anko, and with BYD to bring the world’s top-selling electric vehicle brand to the country.
“These investments show our commitment to diversifying offerings for Filipino consumers,” Ayala said. “By working with world-class partners, we combine global expertise with Ayala’s local market knowledge to deliver better value and experiences.”
Deepening PH–UAE ties
The partnership also underscores the strengthening economic ties between the Philippines and the UAE, home to nearly one million Filipinos who are already familiar with the Spinneys brand.
The Spinneys–Ayala venture comes at a time when relations between the Philippines and the UAE are seeing remarkable growth. Beyond retail, the two nations are expanding cooperation in trade, investment, and energy.
The Philippines and the UAE are currently working toward a Comprehensive Economic Partnership Agreement (CEPA) that would lower barriers in goods, services, and investments. Bilateral non-oil trade has already more than doubled in recent years, making the UAE one of the Philippines’ top partners in the Arab world. The signing of an Investment Promotion and Protection Agreement (IPPA) is also expected to boost capital flows, with UAE investments in Philippine infrastructure, retail, and energy gaining momentum.
Earlier this year, Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy leader, announced its entry into the Philippine market, signing agreements with the government to develop 1 gigawatt (GW) of clean energy projects as part of its Southeast Asia portfolio.
Dubai’s DP World has likewise expanded into the Philippines, with terminals in Manila, Cavite, and Batangas now serving as vital gateways connecting the country to global trade networks.
