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Fairview Terraces is a mid-sized lifestyle shopping center owned and operated by Ayala Land under the Ayala Malls brand, situated at the corner of Quirino Highway and Maligaya Drive in Barangay Pasong Putik, Novaliches, Quezon City, Philippines. Opened on February 28, 2014, it spans a gross leasable area of 114,000 square meters across five floors, accommodating approximately 420 shops. The property targets middle to upper-middle income households (AB and broad C socioeconomic classes) in the Fairview district, which encompasses around 200,000 households in a densely populated suburban area characterized by residential communities, schools, and emerging commercial nodes.
Tenant mix emphasizes a balanced blend of retail (fashion, lifestyle, and department stores), dining (restaurants and food courts with garden seating), entertainment (cinemas and playgrounds), and essential services (supermarket and pharmacies), fostering a less crowded, open-air garden atmosphere that differentiates it from hypermarkets.
Market position as Ayala Malls third largest in Quezon City places it in a competitive northern metro landscape, benefiting from proximity to major residential developments.
Leasing advantages include high operational quality from Ayala management, with area-wide occupancy rates around 97 percent per recent Savills reports, and rent levels estimated at PHP 1,500 to 2,000 per square meter per month, offering stability amid post-pandemic recovery.
Accessibility is strong via Quirino Highway and multiple bus routes, with 1,500 parking slots and anticipated enhancement from MRT Line 7 at nearby Mindanao Avenue station. However, challenges arise from intense local competition and potential infrastructure wear after a decade of operation, influencing retail performance metrics like footfall, which remains moderate compared to larger anchors.
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Hours of Operation
Hours
| Monday | 11:00 AM — 09:00 PM |
| Tuesday | 11:00 AM — 09:00 PM |
| Wednesday | 11:00 AM — 09:00 PM |
| Thursday | 11:00 AM — 09:00 PM |
| Friday | 11:00 AM — 10:00 PM |
| Saturday | 11:00 AM — 10:00 PM |
| Sunday | 11:00 AM — 10:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Footfall
The Fairview area features a demographic profile of middle-income families, young professionals, and students, with Quezon Citys overall population exceeding 2.9 million and a median household income supporting discretionary spending on lifestyle goods. Proximity to residential enclaves like The Redwoods drives consistent local footfall, estimated at 10,000 to 15,000 daily visitors based on similar Ayala properties, bolstered by family-oriented amenities like playgrounds. Yet, external factors such as urban traffic congestion may limit broader catchment draw, resulting in footfall variability during peak hours and weaker performance in non-essential categories amid economic pressures.
Competition and Market Risks
Fairview Terraces operates in a saturated northern Quezon City retail market, directly competing with larger SM City Fairview across the highway (GLA over 200,000 sqm) and Robinsons Novaliches nearby, which capture higher volume in mass-market segments. This rivalry risks diluting tenant sales, particularly in overlapping categories like apparel and groceries, with SMs dominance in promotions potentially eroding market share. Additional threats include e-commerce growth and regional economic slowdowns, though Ayala's upscale tenant curation (e.g., premium dining) mitigates some saturation by attracting quality-conscious shoppers, necessitating vigilant tenant mix adjustments to sustain performance.
Lease Terms and Infrastructure
Ayala Malls provides structured lease terms with base rents around PHP 1,751 per square meter monthly (aligned with Quezon City averages), plus percentage-of-sales clauses and incentives like fit-out allowances for anchor tenants. Operational quality is high, with reliable maintenance and marketing support, but the propertys 2014 construction raises concerns over aging infrastructure, including potential HVAC and facade updates, especially with planned reinvention starting 2025. Accessibility via highways is advantageous, yet public transport reliance and parking constraints during events pose operational challenges, impacting tenant viability in high-traffic retail formats.
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