GuocoLand, one of Singapore’s leading property developers, has secured two green facilities from DBS Bank and Oversea-Chinese Banking Corporation – a $1.135 billion green facility for refinancing Guoco Midtown and a $105 million green facility for refinancing Midtown Bay.
The $1.135 billion green facility for the refinancing of Guoco Midtown is the largest facility that the company has secured to date. These facilities have been raised under GuocoLand’s Green Finance Framework and bring the total amount of green financing secured by the company to about $5 billion. Other projects that have been financed through green facilities include Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.
According to GuocoLand’s Group CFO, Andrew Chew, this latest refinancing activity not only allows the company to optimize its capital structure, but also aligns with its commitment to creating thoughtfully designed spaces that balance economic, environmental, and social factors.
The company has been actively promoting sustainable development and responsible business practices in its projects. This includes incorporating green features and obtaining green certifications for its properties, such as the Green Mark and LEED certifications. Through its Green Finance Framework, GuocoLand aims to further support sustainable development by leveraging on green financing to fund its projects.
Guoco Midtown, one of GuocoLand’s flagship developments, is a mixed-use project that integrates office, retail, and residential spaces. The project has been designed with sustainability in mind, with features such as energy-efficient systems and green walls. It has also received the Green Mark Platinum certification, the highest rating for sustainable buildings in Singapore.
The other property that has been refinanced through a green facility, Midtown Bay, is a luxury residential development within Guoco Midtown. The project has been designed to incorporate green features and has also received the Green Mark Platinum certification.
GuocoLand’s commitment to sustainable development is evident in its various projects and initiatives. Through its efforts, the company not only contributes to the preservation of the environment, but also creates spaces that are conducive to the well-being of its occupants.