ALI advances Garden Court Residences as zero-carbon office portfolio grows

LISTED property developer Ayala Land, Inc. (ALI) said it has allocated P488.63 million for the development of its Garden Court Residences in Taguig City.

In a stock exchange disclosure on Monday, ALI said the funding came from proceeds of the block sale of shares in its real estate investment trust AREIT, Inc. last year.

The transaction involved 12 million AREIT common shares sold at P40.78 per share, with ALI receiving the net proceeds on July 7, 2025.

Garden Court Residences is a two-hectare residential development comprising five towers within ALI’s ARCA South estate.

The 364-unit project, which is 82% complete, is scheduled for completion by 2027.

The development will feature a 6,000-square-meter courtyard, sky gardens, a sky gym, a social hall and deck, and swimming pools.

ALI said it allocated P323.36 million for the project in the third quarter of 2025, P34.23 million in the fourth quarter, and P131.04 million in the first quarter of 2026.

Garden Court Residences is located within ARCA South, ALI’s 74-hectare master-planned estate eyed to become Metro Manila’s next central business district.

The development is accessible via the South Luzon Expressway and Bonifacio Global City through C-5 Road.

Also on Monday, ALI said it recorded the largest excellence in design for greater efficiencies (EDGE) zero carbon-certified office portfolio globally, covering 1.53 million square meters across 50 office properties in Metro Manila, Laguna, Cebu, Baguio, Iloilo, and Bacolod.

The milestone comes as part of the company’s ongoing push to adopt green building features across its properties, the company said in a separate statement. Its tenants include a mix of corporate and business process outsourcing firms.

“By securing the EDGE Zero Carbon Certifications for our office portfolio, we are able to verify the performance of our green buildings with measurable results that support operational efficiency, and long-term asset value,” ALI Chief Sustainability Officer Robert S. Lao said.

On Jan. 22, the company formally received its EDGE Zero Carbon certifications, awarded following third-party audits conducted by the Philippine Green Building Initiative.

The EDGE Zero Carbon certification, developed by the International Finance Corp. (IFC), requires buildings to first achieve EDGE Advanced certification, demonstrating at least 40% energy reduction, 20% savings in water use, and reduced embodied carbon in materials.

Projects must also operate on 100% renewable energy or verified carbon offsets while maintaining at least 75% occupancy for one year.

ALI’s zero-carbon milestone aligns with its sustainability-linked financing program, which adheres to international guidelines such as the ASEAN Sustainability-Linked Bond Standards, the Sustainability-Linked Bond Principles issued by the International Capital Market Association, and the Sustainability-Linked Loan Principles issued by the Asia Pacific Loan Market Association.

Between 2024 and 2025, the company raised about $1 billion (around P56 billion) through sustainability-linked instruments, including a P14.2-billion sustainability-linked loan (SLL1) in July 2024, a P12.87-billion SLL2 in August 2025 from the IFC, and P29 billion in Sustainability-Linked Bonds (SLB) listed on the Philippine Dealing & Exchange Corp.

The company has also set targets to reduce greenhouse gas emissions by 42% across its malls, offices, and hotels by 2030.

ALI continues to pursue green building certifications across its malls, hotels, residential developments, logistics facilities, and mixed-use estates.

Its portfolio includes the Makati Central Business District, Bonifacio Global City, Cebu Business Park, Alviera in Pampanga, and Ascenda in Davao City.

In the first nine months of 2025, ALI posted a net income of P21.4 billion, slightly higher than the P21.2 billion recorded in the same period last year.

At the local bourse on Monday, ALI shares fell 2.04% or 45 centavos to close at P21.60 each. — Beatriz Marie D. Cruz