IFC and Ayala Land Expand $225M Partnership to Scale Green Buildings in PH

In a significant stride toward sustainable urban development, the International Finance Corporation (IFC) has extended a second sustainability-linked loan (SLL) of up to PHP 12.87 billion (approximately US$225 million) to Ayala Land, Inc. (ALI). The move underscores IFC’s commitment to advancing climate-resilient infrastructure in the Philippines while reinforcing ALI’s leadership in embedding sustainability across its real estate portfolio.

Financing Greenbelt 1 and Ayala Malls Evo City

The loan will help finance two major projects:

• Greenbelt 1 redevelopment in Makati City, a prime commercial hub in Metro Manila.

• Ayala Malls Evo City in Cavite, a flagship commercial development within a fast-growing mixed-use estate.

Together, the two projects will contribute approximately 89,000 square meters of gross leasable area, strengthening ALI’s retail footprint while delivering green, resilient, and future-ready spaces for businesses and consumers.

A Global First: Embedding Resilience into Development

A pioneering feature of this partnership is the integration of IFC’s Building Resilience Index (BRI) across 50 of ALI’s commercial and industrial properties. This makes ALI the first real estate developer globally to embed BRI systematically into its project development process.

The BRI, developed by IFC, is a tool that assesses the resilience of buildings to climate hazards such as floods, typhoons, and earthquakes—factors of particular relevance to the Philippines, one of the most climate-vulnerable countries in the world.

Scaling Sustainability Through Finance

This new agreement follows IFC’s inaugural sustainability-linked loan to ALI in 2024 and builds on the company’s sustainability-linked financing program. Under this model, ALI’s cost of financing is directly tied to the achievement of pre-agreed sustainability targets, reinforcing accountability while scaling impact.

Among ALI’s performance targets are:

• A 42% reduction in greenhouse gas emissions across its commercial leasing portfolio by 2030.

• EDGE Zero Carbon certification for 1.5 million square meters of office space by the end of 2025.

The EDGE (Excellence in Design for Greater Efficiencies) certification is an IFC innovation that recognizes buildings achieving significant energy, water, and materials savings. Achieving Zero Carbon EDGE certification positions ALI as a global leader in climate-resilient and low-carbon real estate.

Economic Impact and Job Creation

Beyond environmental goals, the financing package is expected to deliver tangible social and economic benefits. The construction and operation phases of the projects will generate over 1,000 direct jobs, while tenant and merchant activities within the new properties are projected to support an additional 3,000 workers.

These developments are designed not only as commercial hubs but as vibrant ecosystems that stimulate local economies, provide employment opportunities, and attract businesses into resilient, sustainable environments.

Statements from Partners

“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.”

ALI President and CEO Meean Dy emphasized that sustainability is now central to the company’s growth strategy. “By embedding sustainability into our projects, we enhance customer experience, protect long-term value for our stakeholders, and set new benchmarks for the industry. 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.”

Shaping a Climate-Resilient Future

By combining the use of IFC’s BRI and EDGE certification tools, Ayala Land is addressing both climate mitigation and climate adaptation. This integrated approach positions ALI to hold one of the most significant EDGE Zero Carbon-certified and BRI-rated real estate portfolios in the world, setting a precedent for developers in emerging markets.

The collaboration highlights how innovative financing models, international expertise, and private sector commitment can converge to build a more sustainable, climate-resilient built environment in the Philippines—one that delivers value for businesses, communities, and the planet.