Guocoland Secures Two Green Facilities Dbs And Ocbc Refinance Its Properties
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GuocoLand, a leading property developer, has recently acquired two green facilities worth a total of $1.24 billion from DBS Bank and Oversea-Chinese Banking Corporation. The first facility valued at $1.135 billion will be used for the refinancing of Guoco Midtown, while the second facility worth $105 million will be used for the refinancing of Midtown Bay.
According to GuocoLand, the $1.135 billion green facility is its largest to date and was raised under its Green Finance Framework. This brings the total amount of green financing secured by the company to about $5 billion.
The Green Finance Framework is part of GuocoLand’s commitment to sustainability and creating environments that balance economic, environmental, and social factors. The company believes that this latest refinancing activity allows it to optimize its capital structure while staying true to its values.
GuocoLand’s Group CFO, Andrew Chew, stated that the company is dedicated to creating thoughtfully designed spaces that prioritize sustainability. He also mentioned that this refinancing activity is a testament to GuocoLand’s ability to attract green financing from reputable financial institutions.
Shares in GuocoLand closed at $1.45 on January 15, remaining unchanged from the previous day’s closing. The company’s upcoming developments, such as the Upper Thomson Road Development, continue to generate interest among investors. Moreover, Porsche Singapore Studio has recently opened a duplex showroom at Guoco Midtown, offering a glimpse into the future of work. Publicis Groupe has also leased 55,000 sq ft of office space at the Guoco Midtown tower.
Guoco Midtown offers a range of residential and commercial properties, including luxury properties. In line with its sustainable approach, the development has also been awarded the Green Mark Platinum certification by the Building and Construction Authority. With its prime location and commitment to sustainability, Guoco Midtown is a highly desirable development in the Singapore property market.
In related news, HSBC has rolled out a special $200 million green loan portfolio for luxury properties in Singapore. This initiative is aimed at promoting the adoption of eco-friendly practices in high-end properties, reaffirming Singapore’s commitment to sustainable development.