First Green Loan for Singapore Leading Industrial Developer
The Loan – that will be compliant using the Green Loan Principles 1 (“GLP”) – will undoubtedly be utilized to create Soilbuild’s 3rd Green Mark Platinum build-to-lease business room with a proposed gross flooring area of 1.1 million sq ft located inside the vibrant Paya Lebar iPark precinct.
The deal marks Soilbuild’s very first utilization of green finance, underscoring the Group’s dedication to growing its profile of properties in a fashion which guarantees a sustainable future. On conclusion, the Project is anticipated to generally meet the Building and Construction Authority’s Green Mark Platinum certification standards, that is the highest official certification for green structures in Singapore.
HSBC Singapore could be the Sole Green Structuring Arranger for Soilbuild’s Green Finance Framework while HSBC Singapore and OCBC Bank acted as joint Mandated Lead Arrangers when it comes to Green Loan.
While this could be the Group’s first loan that is green Soilbuild has very long used sustainability as the functional building agenda since its very first Green Mark Platinum task, Solaris @ one-north, which had been finished in 2010.
Mr Lim Han Qin, Director of Soilbuild Group Holdings stated: “The future Solaris @ Tai Seng is our third Green Mark Platinum building, showing our deep dedication towards adopting sustainability. We hope that the use of this financing that is green further enunciate our commitment in this aspect and encourage more industrialists to embrace green structures and sustainability. ”
Mr Gary Tan, Head of ASEAN Commercial real-estate, HSBC Singapore: “Being sustainable has historically been considered in the market as a ‘nice to have’ but this deal demonstrates that green finance has become an imperative for several Singapore organizations. Continue reading “First Green Loan for Singapore Leading Industrial Developer”