In a move that highlights the convergence of sustainability and financial innovation, the International Finance Corporation (IFC) and Ayala Land, Inc. (ALI) are expanding their partnership to accelerate the development of green and resilient buildings in the Philippines. The new initiative is backed by a second sustainability-linked loan (SLL) amounting to up to ₱12.87 billion (US$225 million equivalent), further cementing the role of sustainable finance in shaping the future of the property sector.
The facility will support the construction of Greenbelt 1 in Makati and Ayala Malls Evo City in Cavite, which together offer a gross leasable area of about 89,000 square meters. Beyond financing, IFC will also work with ALI to implement the Building Resilience Index (BRI) across 50 commercial and industrial properties. With this, Ayala Land becomes the first developer globally to integrate BRI into its project development framework.
This latest agreement follows IFC’s first sustainability-linked loan to Ayala Land in 2024 and forms part of the developer’s broader push toward embedding sustainability at the core of its financing strategy.
“IFC is proud to deepen our partnership with Ayala Land as it pushes the frontier for sustainable real estate in the Philippines,” said Amena Arif, IFC Country Manager for the Philippines. “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 more than 1,000 direct jobs during the construction and operational phases of the two projects. Merchant activities within the new developments are also projected to employ around 3,000 workers, further stimulating local economies and fostering dynamic commercial communities.
Ayala Land President and CEO Meean Dy underscored the importance of embedding sustainability in the company’s long-term growth. “By embedding sustainability into our projects, we enhance customer experience, protect long-term value for our stakeholders, and set new benchmarks for the industry,” she said. “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 tied to key performance targets, including the reduction of greenhouse gas emissions by 42 percent across ALI’s commercial leasing portfolio by 2030, and the EDGE Zero Carbon certification of 1.5 million square meters of office space by the end of 2025.
By utilizing IFC’s BRI and EDGE certification tools, ALI is advancing both climate adaptation and mitigation, positioning itself as the developer with the largest portfolio of EDGE Zero Carbon-certified and BRI-rated properties worldwide. This expanded collaboration underscores the shared commitment of IFC and Ayala Land to building a more sustainable and climate-resilient property landscape in the Philippines.
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