Arthaland Corporation, the foremost sustainable real estate developer in the Philippines, has listed its P3 billion ASEAN Green Bonds on the Philippine Dealing and Exchange.
The bonds were issued in two tenors – 5 years at 8.0 percent per annum and 7 years at 8.7557 percent per annum respectively.
The 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.
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 ASEAN Green Bonds carry our commitment to use the proceeds only towards 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,” said Arthaland Director Christopher T. Po.
He added that, “We believe that this offer gives institutions and the public a chance to participate in this noble cause.”
The ASEAN Green Bonds aligns with Arthaland’s commitment to sustainability. It 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.
As a signatory to this program, Arthaland officially committed to decarbonizing its portfolio by 2030, placing itself and the Philippines in the forefront of the global initiative for climate action.
Its flagship office project, the Arthaland Century Pacific Tower, was recognized as the world’s first Net Zero Carbon Project as certified under the EDGE Green Building Program of the IFC.
Two of Arthaland’s largest multi-certified sustainable projects, Cebu Exchange and Savya Financial Center, became operational in 2022.
It also launched two new residential projects within the second half of 2022. Una Apartments, the first of six mid-rise residential towers in Sevina Park in Binan, Laguna broke ground in September, while Eluria, Arthaland’s multi-certified luxury condominium project in Legazpi Village, Makati, broke ground in November.
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The article was originally published in Manila Bulletin and written by James A. Loyola.
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