GuocoLand, through its indirect subsidiaries, MTG Apartments Pte. Ltd. and MTG Retail Pte. Ltd., has secured a S$730 million ($516.19 million) green club loan from OCBC Bank, DBS Bank and ICBC Singapore Branch for the construction of a new luxury residential/commercial development at Tan Quee Lan Street. The development is a joint venture between GuocoLand and two subsidiaries of Hong Leong Holdings – Intrepid Investments Pte. Ltd. and Hong Realty (Private) Limited.
This is GuocoLand’s first green loan and the industry’s largest green loan for a development project in Singapore to date. Proceeds from the loan will go towards financing the project, including the efforts in sustainable development, water and energy conservation, and adoption of immersive urban greenery and landscaping.
Cheng Hsing Yao, group managing director, GuocoLand Singapore, said, “Climate change is one of the biggest challenges of our times. Our developments are always conceived, developed
