The International Finance Corporation (IFC) and Ayala Land, Inc. (ALI) are expanding their partnership to scale green and resilient buildings in the Philippines, combining sustainability with financial innovation while supporting job creation. IFC is providing a second sustainability-linked loan (SLL) of up to PHP12.87 billion (US$225 million equivalent) to ALI, reinforcing sustainable finance in the real estate sector.
The funding will support the development of two major commercial projects: Greenbelt 1 in Makati and Ayala Malls Evo City in Cavite, with a combined gross leasable area of approximately 89,000 square meters. In addition, IFC will work with ALI to implement the Building Resilience Index (BRI) across 50 commercial and industrial properties, making ALI the first developer globally to integrate the BRI into its project development process.
This agreement follows IFC’s initial sustainability-linked loan to ALI in 2024 and forms part of ALI’s broader sustainability-linked financing program. IFC Country Manager Amena Arif highlighted that the partnership mobilizes financing, generates employment, and strengthens resilience in a country prone to extreme weather events.
The investment is expected to create over 1,000 direct jobs during construction and operations, with merchant activities in the new properties projected to employ around 3,000 workers, fostering vibrant commercial ecosystems in both districts. ALI President and CEO Meean Dy emphasized that embedding sustainability into projects enhances customer experience, protects long-term stakeholder value, and sets new industry benchmarks, demonstrating that sustainable financing is scalable.
The loan is tied to specific sustainability performance targets, including a 42 percent reduction in greenhouse gas emissions across ALI’s commercial leasing portfolio by 2030 and achieving EDGE Zero Carbon certification for 1.5 million square meters of office space by the end of 2025. By leveraging IFC’s BRI and EDGE tools, ALI aims to address both climate mitigation and adaptation, positioning itself as the developer with the largest EDGE Zero Carbon-certified and BRI-rated portfolio globally. The partnership underscores IFC and ALI’s commitment to fostering a sustainable and climate-resilient built environment in the Philippines.
