Guocoland Secures Two Green Facilities Dbs And Ocbc Refinance Its Properties
GuocoLand Secures $1.135 billion Green Facility from DBS Bank and OCBC Bank for Guoco Midtown RefinancingOne of Singapore’s leading property developers, GuocoLand, has announced the successful securing of two green facilities from DBS Bank and OCBC Bank. The first is a $1.135 billion green facility for the refinancing of Guoco Midtown, while the second is a $105 million green facility for the refinancing of Midtown Bay.
According to GuocoLand, this $1.135 billion green facility is its largest to date and is a significant step towards achieving the company’s sustainability goals. These green facilities were raised under GuocoLand’s Green Finance Framework, which guides the company in its pursuit of environmentally responsible financing options. So far, the company has secured approximately $5 billion in green financing, including green facilities for developments such as Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.
In a statement, GuocoLand Group CFO Andrew Chew said, “This latest refinancing activity allows us to optimise our capital structure while staying true to our commitment to creating thoughtfully designed spaces that balance economic, environmental and social factors.”
These green facilities align with GuocoLand’s commitment to sustainable development, with Guoco Midtown and Midtown Bay both being designed with environmental considerations in mind. Guoco Midtown is a vibrant mixed-use development that consists of two office towers, three residential towers, and a lifestyle and retail podium. It is also the first development in Singapore to be awarded the WELL Platinum certification, which recognises buildings that prioritize the health and wellbeing of its occupants.
Midtown Bay, located within Guoco Midtown, is a 33-storey residential tower that offers residents easy access to public transportation, green spaces, and amenities. Similarly, it has achieved the Green Mark Platinum certification, which acknowledges environmentally friendly buildings.
In addition to its commitment to sustainability, GuocoLand is also focused on creating spaces that foster community and connectivity. Guoco Midtown’s Network Hub, a vibrant co-working space located within the development, is a prime example of this. It offers flexible workspace solutions to businesses of all sizes and has helped to reshape the concept of workspaces in Singapore.
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Shares in GuocoLand closed flat at $1.45 on January 15. The company’s continuous efforts to prioritize sustainability as well as community and connectivity have solidified its position as a leading developer in Singapore.