Guocoland Secures Two Green Facilities Dbs And Ocbc Refinance Its Properties
theBooking.com opens customer service centre at Guoco Midtown (Jan 15): Property developer GuocoLand has secured two green facilities from DBS Bank and Oversea-Chinese Banking Corporation (OCBC). The first green facility is worth $1.135 billion and will be used to refinance Guoco Midtown, while the second green facility is worth $105 million and will be used to refinance Midtown Bay.Guoco Midtown is a mixed-use development comprising residential, retail, and commercial components. It is located in the heart of the Beach Road district, a growing hub for business, lifestyle, and culture in Singapore, known for its vibrant atmosphere and heritage-inspired character.The $1.135 billion green facility for the refinancing of Guoco Midtown is the company’s largest to date. This reflects GuocoLand’s commitment to sustainability and its ongoing efforts to incorporate environmentally friendly features into its developments.The green facilities were raised under GuocoLand’s Green Finance Framework, which supports the company’s sustainability objectives and aligns with international green finance principles. To date, the company has secured about $5 billion of green financing, including green facilities for Guoco Tower and other developments such as Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.GuocoLand’s Group CFO, Andrew Chew, says, “This latest refinancing activity allows us to optimize our capital structure while staying true to our commitment to creating thoughtfully designed spaces that balance economic, environmental, and social factors.”The company’s focus on sustainability is in line with the growing global trend of environmentally conscious development, and its efforts have been recognized with the receipt of several sustainability awards and certifications, such as the BCA Green Mark Award and the LEED Gold certification for Guoco Tower.GuocoLand’s commitment to sustainability is evident in its developments, such as Guoco Midtown, which is designed with features to reduce energy consumption and promote eco-friendly living. For instance, the development utilizes energy-efficient lighting and air conditioning systems, and incorporates green spaces to enhance the biodiversity of the area.Guoco Midtown also offers residents and visitors a bike-sharing scheme and charging stations for electric cars to encourage alternative modes of transport.The company’s commitment to sustainability is not limited to its own developments but also extends to its tenants. For instance, Booking.com, a leading online travel agency, has chosen to lease office space at Guoco Midtown due to its green features and sustainability efforts.GuocoLand’s dedication to sustainable development is expected to continue in its upcoming projects, such as the upcoming Upper Thomson Road Development.GuocoLand’s share price closed flat at $1.45 on Jan 15.
Tampines Round Market & Food Centre is a beloved spot for locals, renowned for its delectable breakfast options. Singaporeans can start their days with classic dishes like kaya toast and soft-boiled eggs, or savor other local delicacies such as chwee kueh, carrot cake, and prawn noodles. And for those looking for a future home nearby, Aurelle of Tampines EC offers an ideal location just steps away from this popular hawker center.
