IFC Considers Further Investment in Ayala Land's Greening Project

The International Finance Corp. (IFC) of the World Bank Group is considering further investment in Ayala Land Inc. (ALI) to support the renovation and expansion of its flagship malls to make them more environmentally friendly.

A document from the World Bank revealed that the IFC board was set to discuss a proposed investment in ALI for the 'AyalaLand SLF2 Project' on July 3.

Details about the new SLF2 Project are not yet available on IFC's website.

Last year, ALI secured a $250 million loan from IFC to fund its net-zero emissions goal, including the greening of 10 malls in Cebu and Metro Manila under the first SLF.

IFC had invested in ALI's sustainability-linked loan in October 2024, aimed at decarbonizing its real estate portfolio.

The loan will be used to renovate flagship malls such as Ayala Center in Cebu City, Glorietta and Greenbelt in Makati City, and TriNoMa in Quezon City, without changing their footprint to transform them into green buildings.

ALI aims to have the largest EDGE Zero Carbon property portfolio globally and reduce greenhouse gas emissions by 42% by 2030.

Through financing, ALI targets to increase its office space compliant with IFC's Zero Carbon Certification to 1.5 million sqm by end-2025.

IFC also mentioned ALI's plans to have its hotel-room portfolio EDGE Zero Carbon-certified by 2026.

ALI, a subsidiary of Ayala Corp., is the largest property developer in the Philippines with significant land holdings across the country.

IFC plans to mobilize $4-5 billion in long-term commitments for Philippine firms from 2025 to 2031, focusing on climate and digitalization initiatives.

IFC will continue to prioritize areas like affordable housing, climate finance, and private-sector investment promotion in the Philippines.