Developer GuocoLand secures green loans totalling $908 million

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Developer GuocoLand secures green loans totalling $908 million

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Developer GuocoLand secures green loans totalling $908 million

//business-finance.news-articles.net/content/202 .. d-secures-green-loans-totalling-908-million.html

Published in Business and Finance on Wednesday, January 15th 2025 at 6:20 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Real estate group GuocoLand has secured two green loans amounting to a total of S$1.24 billion ($907.8 million) from Singaporean lenders DBS and Oversea-Chinese Banking Corp , it said in a statement on Wednesday.

210x110/5849 Bytes

GuocoLand, a Singapore-based property developer, has secured green loans totaling S$1.2 billion (approximately $908 million) to finance its sustainable development projects. These loans, which include a S$500 million three-year club loan and a S$700 million five-year loan, are part of GuocoLand's strategy to fund environmentally friendly projects such as the Guoco Midtown development. The financing aligns with GuocoLand's commitment to sustainability, aiming to reduce carbon emissions and enhance energy efficiency in its real estate portfolio. The loans are structured to meet the criteria of the Green Loan Principles, ensuring that the funds are used for projects that have positive environmental impacts.

Read the Full Reuters Article at:
[ https://www.reuters.com/sustainability/sustainable-finance-reporting/developer-guocoland-secures-green-loans-totalling-908-million-2025-01-15/ ]