📋 Tender Overview
Project Number: 49225
Company Name: AYALA LAND, INC.
Date ESRS Disclosed: Jul 22, 2024
Country: Philippines
Region: East Asia and the Pacific
Environmental Category: B
Status: Pending Disbursement
Department: Regional Industry - MAS Asia & Pac
Project Description
Ayala Land, Inc. ( ALI or the Company) is the largest property developer in the Philippines, with more than 11,000 hectares of land bank and a solid track record in developing large-scale, integrated, mixed-use, and sustainable estates. With a footprint spanning 52 estates nationwide, ALI 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 centres, offices, hotels, resorts, warehouses, co-living, and co-working spaces. Additionally, ALI is engaged in construction, property management and other property-related investments.
IFC is proposing to provide ALI with up to PHP14,300,000,000 (US$250 million equivalent) in local currency in the form of an up to [8]-year sustainability-linked loan ( SLL ). The IFC proceeds will be used for the planned refurbishment of ten (10) selected flagship malls of ALI, which are managed by the AyalaLand Malls Group (AMG ). These malls include Ayala Center in Cebu, Glorietta 1, 2, 3 and 4; Greenbelt 2, 3, 4, 5; and TriNoma in Metro Manila (the Project ). The Project will involve internal and external refurbishment only, with no changes to the existing footprint of the Projects. All demolition and construction work for the refurbishment will be completed by the end of 2026 by Makati Development Corporation ( MDC ), a wholly owned subsidiary of ALI.
Financing Sources:
2) World Bank (WB)
1818 H Street, NW Washington, DC 20433 USA
Tel : (202) 473-1000
https://www.worldbank.org/
