ADVERTISEMENT
Manila Bulletin devider Business devider The Stock Market devider Ayala Land gets ₱13-billion support from IFC for green buildings

Ayala Land gets ₱13-billion support from IFC for green buildings

Published Aug 29, 2025 11:42 am
International Finance Corp. (IFC), the investment arm of the World Bank Group (WBG), is providing a second sustainability-linked loan (SLL) of up to ₱12.87 billion ($225 million) to real estate giant Ayala Land Inc. (ALI), marking another milestone in sustainable finance in the real estate sector.
IFC said the strategic move to expand their partnership underscores both sustainability and financial innovation by scaling green and resilient buildings in the Philippines while supporting job creation.
The loan will fund the development of Greenbelt 1 in Makati City and Ayala Malls Evo City in Cavite province, two large-scale commercial projects with an estimated gross leasable area (GLA) of 89,000 square meters (sqm).
In addition, IFC will collaborate with ALI to implement the Building Resilience Index (BRI) across 50 commercial and industrial properties, making ALI the first developer globally to embed BRI into its project development process.
This latest agreement builds on IFC’s inaugural SLL to ALI in 2024, which forms part of the company’s broader sustainability-linked financing (SLF) program.
“IFC is proud to deepen our partnership with Ayala Land as it pushes the frontier for sustainable real estate in the Philippines,” said IFC Country Manager for the Philippines Amena Arif.
She added that, “This programmatic approach not only mobilizes financing, but also creates jobs and strengthens resilience in a country prone to extreme weather events.”
The investment is expected to generate over 1,000 direct jobs during construction and operations, while merchant activities in the new properties are projected to employ about 3,000 workers, creating vibrant commercial ecosystems in both districts.
“By embedding sustainability into our projects, we enhance customer experience, protect long-term value for our stakeholders, and set new benchmarks for the industry,” said ALI President and Chief Executive Officer (CEO) Ma. Anna Margarita B. Dy.
She noted that, “Our partnership with IFC demonstrates that sustainable financing is not only achievable, it’s scalable. This is a model for how we will fund our growth in the future.”
The loan is linked to ALI’s achievement of specific sustainability performance targets, including reducing greenhouse gas (GHG) emissions by 42 percent across its commercial leasing portfolio by 2030, and EDGE Zero Carbon certification of 1.5 million sqm of office space by the end of 2025.
By leveraging IFC’s BRI and EDGE certification tools, ALI aims to address both climate mitigation and adaptation—positioning itself as the developer with the most significant EDGE Zero Carbon-certified and BRI-rated portfolio globally.
The partnership reinforces IFC and ALI’s joint commitment to shaping a more sustainable and climate-resilient built environment in the Philippines.
ALI is also raising up to ₱15 billion from its third sustainability-linked bonds as part of plans to raise up to ₱55 billion in funding before the end of the year.
Philippine Rating Services Corp. (PhilRatings) said it has assigned the highest issue credit rating of PRS Aaa, with a stable outlook, to ALI’s proposed third sustainability-linked bonds amounting to ₱10 billion, with an oversubscription option of up to ₱5 billion.
Former ALI Chief Finance Officer (CFO) Augusto Bengzon said earlier that the firm will be raising ₱10 billion this month from a multilateral sustainability-linked loan.
In an interview, Bengzon said that ₱30 billion, or 60 percent of the ₱50-billion to ₱55-billion funding, will be in sustainability-linked format, so they are also slating the issuance of green bonds by October aside from bilateral loans within the fourth quarter.
He said they are favoring the sustainability-linked financing format since this “has been well-received by the public and has received many awards across the region for its innovative nature.”
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.