Arthaland raises P3 billion from ASEAN green bonds

MANILA, Philippines — Listed real estate developer Arthaland successfully raised P3 billion from the issuance of ASEAN green bonds.

A substantial portion of the proceeds from the offer will fund the necessary investment in new certified sustainable residential projects that will allow Arthaland the flexibility to develop and launch within the next 10 years or more, the company said.

The latest offer comprises the second tranche of the company’s P6 billion ASEAN Green Bond Program, for which Arthaland established the first Green Framework by a real estate company in the Philippines.

Christopher Po, Arthaland director, said the green bond issuance is part of the group’s commitment toward sustainable real estate.

“The ASEAN green bonds carry our commitment to use the proceeds only toward projects that meet minimum green building certifications and to be transparent in disclosing the environmental impact of these projects through energy savings and reductions in greenhouse gas emissions. We believe that this offer gives institutions and the public a chance to participate in this noble cause,” Po said at the listing ceremony for the bonds last Dec. 22.

The bonds were issued in two tenors – five years at eight percent per annum and seven years at 8.7557 per annum, respectively.

The ASEAN green bonds align with Arthaland’s unparalleled commitment to sustainability.

Arthaland is the only developer in the country with a portfolio composed entirely of sustainable projects certified under multiple global and national standards for green buildings.

It is the first real estate developer in Asia and the first signatory from the Philippines to the Net Zero Carbon Building Commitment of the World Green Building Council, Arthaland said.

Arthaland has committed to decarbonize its portfolio by 2030, placing itself and the Philippines in the forefront of the global initiative for climate action.

The Arthaland Century Pacific Tower, the company’s flagship officep project, was recognized as the world’s first Net Zero Carbon Project as certified under the EDGE Green Building Program of the International Finance Corp.

Two of Arthaland’s largest multi-certified sustainable projects, Cebu Exchange and Savya Financial Center, became operational in 2022.