Ayala Land is a long-standing IFC strategic client and partner in establishing the sustainability-linked finance framework in the Philippines. It is the largest property developer in the Philippines, with more than 10,000 hectares of land bank and a solid track record in developing large-scale, integrated, mixed-use, and sustainable estates. With a footprint spanning 53 estates nationwide, Ayala Land has a diverse real estate portfolio composed of developing residential, office, commercial and industrial properties for sale, as well as properties for lease such as shopping centers, offices, hotels, resorts, warehouses, co-living and co-working spaces. Additionally, Ayala Land is engaged in services such as construction, property management, and other property-related investments.

ALI is listed on the Philippines Stock Exchange (PSE). ALI’s largest shareholder is Ayala Corporation (AC), a diversified business conglomerate in the Philippines with operations in real estate, financial services, telecommunications, industrial technologies, power, infrastructure, healthcare, education, and technology ventures.  

The proposed IFC investment is an up to PHP14.3 billion (equivalent to approximately US$250 million) in local currency SLF with a tenor of up to 8 years to ALI.                                                   

The Company is headquartered in Makati City, Metro Manila, Philippines.                                                   

The Project is a Category B project under IFC’s Policy on Environmental and Social Sustainability. The proposed project is expected to have limited adverse environmental and social risks and impacts that are few and site-specific and can be avoided or mitigated by adhering to recognized performance standards, good international industry practices and guidelines. The Project will align with the work currently being completed under the ESAP for the SLL1 investment to align ALI and MDC’s E&S management with IFC PS. Key E&S risks and issues associated with this project will include: a) finalising and implementing an Environmental and Social Management System (ESMS) for MDC and AMG; b) finalising and implementing HR policies to promote and assure fair, safe and healthy working conditions for staff and contractors during construction and operation; c) management of construction phase risks and impacts including those related to contractor management, Occupational Health and Safety (OHS), and community safety; d) life and fire safety system design of the malls; e) implementation of stakeholder and Grievance Redress Mechanisms (GRM) with IFC PS. Interviews were conducted with 32 workers, including 9 female workers across seven groups, representing various roles, sites, and contract types.