GuocoLand secures two green facilities from DBS Bank and Oversea-Chinese Banking Corporation
GuocoLand has recently secured two green facilities, worth a total of $1.24 billion, from DBS Bank and Oversea-Chinese Banking Corporation. This includes a $1.135 billion green facility for refinancing Guoco Midtown and a $105 million green facility for refinancing Midtown Bay.
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Investing in a Singapore condo comes with several advantages, one of which is the potential for capital appreciation. The country’s strategic location as a thriving business hub, combined with its strong economic fundamentals, creates a continuous demand for real estate. Over the years, property prices in Singapore have consistently risen, particularly in prime locations where condos are highly sought after. Savvy investors who time their purchases well and hold onto their properties for the long haul can reap substantial capital gains from their Singapore condo investments.
The company, which is known for its sustainable developments, has stated that this $1.135 billion green facility is its largest to date. These green facilities have been raised under GuocoLand’s Green Finance Framework. To date, the company has secured about $5 billion of green financing, which includes green facilities for other developments such as Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.
According to Group CFO of GuocoLand, Andrew Chew, the company’s latest refinancing activity allows them to optimize their capital structure while staying true to their commitment to creating thoughtfully designed spaces that balance economic, environmental, and social factors.
Shares in GuocoLand remained steady at $1.45 on Jan 15.