{"id":120539,"date":"2021-07-08T03:01:55","date_gmt":"2021-07-07T20:01:55","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/allgreen-kerry-joint-ventures-secure-861-75mil-green-loan-for-pasir-ris-8\/"},"modified":"2021-07-18T17:03:01","modified_gmt":"2021-07-18T10:03:01","slug":"allgreen-kerry-joint-ventures-secure-861-75mil-green-loan-for-pasir-ris-8","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/allgreen-kerry-joint-ventures-secure-861-75mil-green-loan-for-pasir-ris-8\/","title":{"rendered":"Allgreen-Kerry joint ventures secure $861.75mil green loan for Pasir Ris 8"},"content":{"rendered":"


\nAllgreen-Kerry joint ventures secure $861.75mil green loan for Pasir Ris 8Artist\u2019s impression of Pasir Ris 8.\u00a0Photo: Allgreen Properties Ltd.
\nTwo of Allgreen Properties and Kerry Properties\u2019 70:30 joint ventures (JVs) \u2013 Phoenix Residential and Phoenix Commercial \u2013 have obtained an $861.75 million green loan from Maybank, OCBC Bank and DBS Bank to finance mixed-use development project, Pasir Ris 8.
\nThis marks the first green loan for both Allgreen and Kerry. It was raised under a new green loan framework that was set up by Allgreen Properties, with support from OCBC.
\nAll three banks served as joint mandated lead arrangers, while DBS and OCBC acted as joint green loan advisors. OCBC was also the security agent, facility agent and account bank for the transaction.
\nThe mixed-use development will feature 487 residential units and four levels of retail podium with a net lettable area of around 268,000 sq ft.
\nIn a joint release, the property developers noted that the development plans for the project \u201care aligned with the criteria for Building and Construction Authority (BCA) Green Mark GoldPlus and Green Mark Platinum Award for the residential component and retail component, respectively\u201d.
\nSome of the project\u2019s green features include energy-saving vertical transportation systems, efficient air-conditioning systems, water-efficiency fittings and systems as well as climate-responsive design.
\nRecommended read:\u00a010 Eco-friendly Condos in Singapore That Are BCA Green Mark Award-Certified
\nElaine Lam, Head of Global Corporate Banking at OCBC Bank, believes that developments with climate responsive designs and energy-efficient systems \u201cwill play an integral role in the growth of an eco-friendly city\u201d.
\nDBS Group Head of Institutional Banking Tan Su Shan said the facility will support Allgreen and Kerry\u2019s plans \u201cto ensure that their mixed-use development project in Pasir Ris is aligned with BCA\u2019s criteria for green buildings, and in turn contribute to the national goal of greening 80% of Singapore\u2019s buildings under the Singapore Green Plan 2030\u201d.
\n\u201cAs more of our clients advance on their sustainability agendas, the financial industry will need to double down on our shared commitment to collectively realise a greener, more sustainable future for all,\u201d she added.
\n\u00a0
\nLooking for a property in Singapore? Visit PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email:\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Allgreen-Kerry joint ventures secure 1.75mil green loan for Pasir Ris 8<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Allgreen-Kerry joint ventures secure $861.75mil green loan for Pasir Ris 8Artist\u2019s impression of Pasir Ris...<\/p>\n","protected":false},"author":1,"featured_media":120540,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-120539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/07\/pasir-ris-8-artist-impression.jpeg?fit=820%2C405&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-vmb","jetpack-related-posts":[{"id":120584,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/jalan-anak-bukit-site-attracts-five-bids\/","url_meta":{"origin":120539,"position":0},"title":"Jalan Anak Bukit site attracts five bids","date":"June 30, 2021","format":false,"excerpt":"\r Jalan Anak Bukit site attracts five bidsThe five bids were from Far East Organization and Sino Group (three separate bids); Allgreen Properties (one bid); and a joint venture between Wing Tai Holdings and Perpetual (Asia) (one bid). 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