dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Social Links
  • zedreviews.com
  • citi.io
  • aster.cloud
  • liwaiwai.com
  • guzz.co.uk
  • atinatin.com
0 Likes
0 Followers
0 Subscribers
dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
  • Cities
  • Lah!

Joint Ventures Between Allgreen Properties Ltd And Kerry Properties Ltd Secure S$861.75 Million Green Loan From DBS, Maybank And OCBC Bank

  • July 11, 2021
Total
0
Shares
0
0
0

Phoenix Residential Pte Ltd and Phoenix Commercial Pte Ltd (“the Borrowers”), both 70:30 joint ventures between Allgreen Properties Ltd and Kerry Properties Ltd, have secured a S$861.75 million green loan from DBS Bank, Maybank and OCBC Bank to finance a mixed-use development project in Pasir Ris in Singapore.

This is the maiden green loan for both Allgreen Properties Ltd and Kerry Properties Ltd, with DBS and OCBC Bank acting as Joint Green Loan Advisors.  DBS, Maybank and OCBC Bank are Joint Mandated Lead Arrangers, while OCBC Bank is also Facility Agent, Security Agent and Account Bank for this transaction.

The mixed-use development will comprise of 487 residential apartments (known as Pasir Ris 8) integrated with a four-level retail podium that has a net lettable area of about 268,000 square feet. Development plans for the mixed-use development project are aligned with the criteria for Building and Construction Authority (BCA) Green Mark GoldPlus and Green Mark Platinum Award for the residential component and retail component respectively.  Some of its green features include efficient air conditioning systems, energy saving vertical transportation systems, water efficiency fittings and systems and climate responsive design.

This green loan was raised under a newly set up Green Loan Framework (the “Framework”) by Allgreen Properties Ltd, with support from OCBC Bank. In addition to eligibility criteria of green projects, the Framework will provide necessary guidance to Allgreen Properties Ltd and its subsidiaries, including the Borrowers, in the allocation and management of the proceeds, aligned with the relevant international principles and guidelines[1].

Mr Lee Yew Kwung, Chief Executive Officer of Allgreen Properties Ltd (李宙鸿, 总裁, 长春产业有限公司) said, “We are pleased to have DBS Bank, Maybank and OCBC Bank supporting us to achieve this sustainability milestone. We look forward to having the first green loan to fund this project as part of our sustainability strategy.  Allgreen Properties Ltd and Kerry Properties Ltd are committed to fostering sustainable development and creating shared value for all stakeholders in the region.”

Ms Tan Su Shan, Group Head of Institutional Banking at DBS (陈淑珊,星展银行集团企业机构银行董事总经理兼主管), said, “We are delighted to partner Allgreen Properties Ltd and Kerry Properties Ltd on their maiden green loan. This facility will support their plans to ensure that their mixed-use development project in Pasir Ris is aligned with BCA’s criteria for green buildings, and in turn contribute to the national goal of greening 80% of Singapore’s buildings under the Singapore Green Plan 2030. As more of our clients advance on their sustainability agendas, the financial industry will need to double down on our shared commitment to collectively realise a greener, more sustainable future for all.”

Mr Gregory Seow, Head of Global Banking at Maybank Singapore (萧鸿赓,马来亚银行环球银行新加坡总管), commented, “We are pleased to be part of the sustainability journey of distinguished real estate groups, Allgreen Properties Ltd and Kerry Properties Ltd. We are committed to sustainable financing with positive societal and environmental impact which will benefit local communities and our clients’ long term business viability.”

Ms Elaine Lam, Head, Global Corporate Banking, OCBC Bank (蓝淑燕, 总裁, 集团企业银行, 华侨银行), said, “We are pleased to partner with Allgreen Properties and Kerry Properties on their maiden green loan, which is another showcase of the real estate industry’s continued commitment to sustainable development.  Our relationship with Allgreen Properties – one of Singapore’s leading property developers – has spanned three decades, and as Singapore moves full steam ahead with Green Plan 2030, developments such as this one, with energy-efficient systems and climate responsive designs, will play an integral role in the growth of an eco-friendly city.

 

[1] Green Loan Principles (“GLP”) 2021 by the Loan Market Association, Asia Pacific Loan Market Association and Loan Syndications and Trading Association.

Total
0
Shares
Share
Tweet
Share
Share
Related Topics
  • Allgreen Properties
  • DBS
  • Maybank Singapore
  • OCBC Bank
dotlah.com

Previous Article
  • Lah!

Monetary Authority Of Singapore And Banque de France Break New Ground In CBDC Experimentation

  • July 9, 2021
View Post
Next Article
  • Lah!

DBS Sets The Pace For Singapore’s Corporate Sustainability Efforts With Plans For Nation’s First Net Zero Building By A Bank

  • July 11, 2021
View Post
You May Also Like
View Post
  • Cities
  • Technology

Meralco PowerGen’s PacificLight starts up 100 MW fast-response plant in Singapore

  • dotlah.com
  • June 20, 2025
View Post
  • Cities

Renewable energy, carbon credits are priority areas of cooperation for Singapore, Philippines: Lawrence Wong

  • dotlah.com
  • June 4, 2025
View Post
  • Cities
  • Politics

Singapore businesses eye more investments in PH, says PM Wong

  • Dean Marc
  • June 4, 2025
View Post
  • Cities
  • Research

Mathematicians uncover the logic behind how people walk in crowds

  • dotlah.com
  • April 3, 2025
View Post
  • Lah!

Tariffs, Trump, and Other Things That Start With T – They’re Not The Problem, It’s How We Use Them

  • John Francis
  • March 25, 2025
View Post
  • Lah!

Canonical announces 12 year Kubernetes LTS

  • John Francis
  • March 4, 2025
“Toyota Woven City,” a Test Course for Mobility, Completes Phase 1 Construction and Prepares for Launch
View Post
  • Cities
  • Technology

“Toyota Woven City,” a Test Course for Mobility, Completes Phase 1 Construction and Prepares for Launch

  • John Francis
  • January 6, 2025
dotlah-smartnation-singapore-lawrence-wong
View Post
  • Artificial Intelligence
  • Featured
  • Features
  • Lah!
  • Machine Learning
  • Technology

Growth, community and trust the ‘building blocks’ as Singapore refreshes Smart Nation strategies: PM Wong

  • Dean Marc
  • October 9, 2024


Trending
  • 1
    • Lah!
    NTUC FairPrice Will Not Draw On National Stockpile Of Face Masks; Working To Secure New Supplies
    • February 1, 2020
  • 2
    • Lah!
    • Technology
    NUS And SUTD To Collaborate On Innovation And Enterprise
    • July 17, 2021
  • 3
    • Lah!
    Singapore Tops World Competitiveness Ranking For 2020
    • June 25, 2020
  • 4
    • Technology
    Singapore Signs MOU With The Republic Of Korea To Enhance Cybersecurity Cooperation
    • November 25, 2019
  • 5
    • Lah!
    • Society
    ​Spike In Use Of Online Communication Apps Among Singapore Residents Could Be Driven By Feelings Of Isolation During COVID-19, Finds NTU Singapore Study
    • January 28, 2021
  • remote-work-pexels-vlada-karpovich-4939658 6
    • Features
    • People
    5 Things To Keep In Mind When Transitioning To Remote Work
    • May 6, 2021
  • 7
    • Cities
    • Lah!
    MPA Launches MarineTech Start-Up Playbook And Enhances Support To Grow More Start-ups
    • November 27, 2021
  • 8
    • Technology
    Google Pixel 3a: The Phone That Gets It Done
    • May 16, 2019
  • 9
    • Lah!
    • Science
    Strengthening Food Security With R&D
    • August 16, 2020
  • 10
    • Cities
    4 Things To Know About The CapitaLand Sustainability X Challenge
    • December 3, 2020
  • 11
    • Technology
    PUB Seeks To Boost Rainfall Forecasting Capabilities With Radar Technology
    • January 27, 2020
  • citi-io-cities-skyline-amber 12
    • Cities
    • Environment
    6 Ways To Grow Our Cities In A More Sustainable Manner
    • January 2, 2024
Trending
  • Camping 1
    The Summer Adventures : Camping Essentials
    • June 28, 2025
  • 2
    Meralco PowerGen’s PacificLight starts up 100 MW fast-response plant in Singapore
    • June 20, 2025
  • 3
    A Father’s Day Gift for Every Pop and Papa
    • June 14, 2025
  • 4
    Apple services deliver powerful features and intelligent updates to users this autumn
    • June 12, 2025
  • 5
    Apple supercharges its tools and technologies for developers to foster creativity, innovation, and design
    • June 11, 2025
  • 6
    It’s time to stop debating whether AI is genuinely intelligent and focus on making it work for society
    • June 8, 2025
  • 7
    PBBM asks Singapore to invest more in PH renewable energy projects
    • June 6, 2025
  • 8
    Singapore PM Wong arrives in Malacañang
    • June 4, 2025
  • 9
    Renewable energy, carbon credits are priority areas of cooperation for Singapore, Philippines: Lawrence Wong
    • June 4, 2025
  • 10
    Singapore businesses eye more investments in PH, says PM Wong
    • June 4, 2025
Social Links
dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Connecting Dots Across Asia's Tech and Urban Landscape

Input your search keywords and press Enter.