Globe Telecom Inc., a leading digital platform in the Philippines, announced the successful closing of additional tower sale and leaseback agreements with its partners, MIESCOR Infrastructure Development Corporation (MIDC) and Phil-Tower Consortium, Inc. (PhilTower). These transactions further advance the company’s strategic initiatives to optimize its infrastructure assets and unlock capital.
The company completed the sale of 12 ground-based towers in Luzon to MIDC, generating approximately Php144 million in proceeds.
Concurrently, Globe finalized the sale of 84 towers located in the Visayas and Mindanao regions to PhilTower for a total consideration of approximately Php1.2 billion. This batch of towers includes 71 ground-based towers and 13 rooftop towers.
These latest closings are part of Globe’s broader strategy to enhance its operational and financial efficiency through the sale and leaseback of its telecommunication towers. To date, Globe has successfully turned over a total of 6,945 towers under the program, with cumulative proceeds reaching approximately Php89.3 billion. The breakdown of tower transfers by year is as follows:
- 2022: 2,410 towers
- 2023: 2,057 towers
- 2024: 2,205 towers
- 2025 (Year-to-date): 273 towers, generating approximately Php3.5 billion in proceeds.
This initiative allows Globe to monetize its passive infrastructure assets while maintaining operational control through long-term lease agreements, thereby freeing up capital for strategic investments in network upgrades and expansion.
