The Midtown Bay serviced apartments are part of GuocoLand’s mixed-use development at Guoco Midtown. GuocoLand secures two sustainable facilities from DBS Bank and Oversea-Chinese Banking Corporation for the refinancing of its properties Guoco Midtown and Midtown Bay. This move further solidifies the company’s commitment to sustainable financing and its dedication to creating well-designed and environmentally conscious spaces.
The $1.135 billion green facility for refinancing Guoco Midtown is the largest of its kind secured by the property developer to date. These green facilities were raised under GuocoLand’s Green Finance Framework, bringing the total amount of green financing secured by the company to about $5 billion. This includes green facilities for other developments such as Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.
The CFO of GuocoLand, Andrew Chew, believes that this refinancing activity is a way for the company to optimize its capital structure while remaining true to its commitment to creating thoughtfully designed spaces that balance economic, environmental, and social factors.
GuocoLand’s latest sustainable facilities not only showcase the company’s dedication to sustainability, but also highlight the growing trend of businesses seeking out green financing options. This reflects a global shift towards more environmentally conscious practices and a stronger focus on sustainability in the real estate industry.
The properties being refinanced, Guoco Midtown and Midtown Bay, are part of GuocoLand’s mixed-use development at Guoco Midtown. This development is designed to be a sustainable and vibrant community that integrates residential, retail, and office spaces, with features such as a car-free zone, green rooftop gardens, and sustainable building materials.
In line with the company’s commitment to sustainability, GuocoLand has also implemented various green initiatives in its developments, such as installing energy-efficient systems and using renewable energy sources.
With the success of its Green Finance Framework and the securing of these two green facilities, GuocoLand reaffirms its position as a leading sustainable property developer in Singapore. The company continues to strive towards creating sustainable and innovative spaces that benefit the environment and local communities.