Globe Telecom Inc. said it has raised P89.3 billion from the sale of 6,954 towers, nearing the completion of its tower sale and leaseback deal.
The company said it recently finalized two significant transactions. These include the sale of 12 ground-based towers in Luzon to MIESCOR Infrastructure Development Corp. (MIDC) for about P144 million.
It also completed the sale of 84 towers in Visayas and Mindanao to Phil-Tower Consortium Inc. (PhilTower) for about P1.2 billion. Of these, 71 are ground-based and the remaining are rooftop towers.
Globe said it turned over 6,945 towers under its sale and leaseback portfolio, generating P89.3 billion in proceeds. The company transferred 2,410 towers in 2022, followed by 2,057 in 2023 and 2,205 in 2024. This year, 273 towers have been turned over, generating about P3.5 billion for the company.
“With the substantial handover of sites, we continue to move forward with our goal of strengthening Globe’s financial position,” said Globe chief finance officer, treasurer and chief risk officer Carlo Puno.
Puno said the transfer “enhances our flexibility to manage liabilities, allocate capital more effectively, and support investments in essential infrastructure and digital platforms.”
Globe president and chief executive Carl Raymond Cruz said that “progressing toward the completion of our tower sale and leaseback program signals Globe’s bold steps toward future-ready growth.”
“It underscores our disciplined execution, strategic focus, and commitment to building a more agile and capital-efficient organization,” said Cruz.
He said this achievement enables the company to “intensify efforts toward delivering reliable connectivity to millions of Filipinos.”
Devid Honore Gubiani, president and chief executive of PhilTower MIDC, said the milestone “reinforces our role as a trusted partner in accelerating the country’s digital transformation through our advanced tower infrastructure operation platforms.”
He said the deal was “never just about infrastructure. It’s about empowering mobile network operators to expand better service experience for millions of Filipinos more rapidly and cost efficiently.”
