MANILA, Philippines — Ayala-led Globe Telecom Inc. completed another round of tower sale and leaseback deals worth P1.34 billion, transferring a total of 96 towers to Miescor Infrastructure Development Corp. (MIDC) and Phil-Tower Consortium Inc. (PhilTower).
In a disclosure on Thursday, Globe said that in separate transactions, 12 ground-based towers located in Luzon were sold to MIDC for approximately P144 million, while 84 towers in Visayas and Mindanao—71 ground-based and the rest rooftop—were sold to PhilTower for about P1.2 billion.
The move forms part of Globe’s ongoing efforts to optimize its infrastructure assets and strengthen its financial position.
“Today marks another milestone in our tower monetization initiative,” Globe Chief Finance Officer Carlo Puno said.
“With the substantial handover of sites, we continue to move forward with our goal of strengthening Globe’s financial position. This transfer enhances our flexibility to manage liabilities, allocate capital more effectively, and support investments in essential infrastructure and digital platforms,” Puno said, who also serves as Glober’s treasurer and Chief Risk Officer.
“It enables us to respond to shifting market dynamics with confidence and continue delivering long-term value to all our stakeholders,” he continued.
With the latest transaction, Globe has turned over a total of 6,945 towers under its sale and leaseback program, generating approximately P89.3 billion in proceeds. These include 2,410 towers transferred in 2022, 2,057 in 2023, and 2,205 in 2024.
So far this year, 273 towers have been closed, contributing around P3.5 billion to total proceeds.
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