Dublin-based HubSpot leases 55,000 sq ft at Guoco MidtownSingapore’s KL-Singapore high-speed rail station to be integrated with Guoco MidtownSINGAPORE (EDGEPROP) – Property developer GuocoLand has secured two green financing facilities from DBS Bank and Oversea-Chinese Banking Corporation (OCBC).The first facility is a $1.135 billion green facility for the refinancing of Guoco Midtown, which is the company’s largest to date. The second facility is a $105 million green facility for the refinancing of Midtown Bay.These green facilities were raised under GuocoLand’s Green Finance Framework, which was launched in 2019. The framework supports the company’s commitment to sustainability and aligns with global efforts to move towards a greener future.Under the framework, 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.“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,” says Andrew Chew, Group CFO of GuocoLand.These green facilities will not only help GuocoLand in achieving its sustainability goals, but also showcase its efforts to incorporate sustainable practices into its developments.The company’s green initiatives are also in line with the government’s push for sustainable development in Singapore. For instance, the upcoming KL-Singapore high-speed rail station will be integrated with Guoco Midtown, promoting convenient and sustainable modes of transport.In July last year, global digital marketing agency Publicis Groupe leased 55,000 sq ft of office space at Guoco Midtown, citing the project’s commitment to sustainability as one of the reasons for its choice of location.GuocoLand’s commitment to sustainable development has also received recognition, with its Guoco Tower being the only property in Singapore to receive the prestigious Green Mark Platinum Award from the Building and Construction Authority (BCA).The company’s focus on sustainability is reflected in its upcoming projects as well. Midtown Modern, a residential development located in the prestigious Bugis area, is designed with energy-efficient features such as solar panels and LED lighting systems. The upcoming Upper Thomson Road Development will also incorporate green features, promoting sustainable living and conservation of resources.GuocoLand’s efforts and continued commitment towards sustainability not only benefit the environment, but also contribute to the growth and success of the company. With the green financing obtained, the developer is well on its way to achieving its sustainability goals and setting a benchmark for other developers to follow suit.
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