The Po family-led property developer Arthaland Corp. completed the sale of P3 billion in “Asean Green bonds” to support the construction of new sustainable projects over the next decade.
The debt instruments were successfully listed on the Philippine Dealing and Exchange last Thursday.
Issued in two tenors, the five-year bonds will pay an annual interest rate of 8 percent while the seven-year bonds will pay 8.7557 percent per year.
“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,” Arthaland director Christopher Po said in a statement.
“We believe that this offer gives institutions and the public a chance to participate in this noble cause,” he added.
The builder said most of the proceeds will bankroll investments in new certified sustainable residential projects “that will allow Arthaland the flexibility to develop and launch within the next 10 years or more.”
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.
This also means the developer had committed to decarbonizing its portfolio by 2030.
Its flagship office project, the Arthaland Century Pacific Tower, was recognized as the world’s first Net Zero Carbon Project, as certified under the Excellence in Design for Greater Efficiencies Green Building Program of the International Finance Corp.
Two of its largest multicertified sustainable projects, Cebu Exchange and Savya Financial Center, became operational in 2022.