{"id":20758,"date":"2016-07-25T16:17:55","date_gmt":"2016-07-25T09:17:55","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-company-issues-green-bond-a-first-for-hong-kong\/"},"modified":"2016-07-25T16:20:12","modified_gmt":"2016-07-25T09:20:12","slug":"property-company-issues-green-bond-a-first-for-hong-kong","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-company-issues-green-bond-a-first-for-hong-kong\/","title":{"rendered":"Property company issues green bond, a first for Hong Kong"},"content":{"rendered":"


\nMeanwhile, mainland China has become the biggest issuer of green bonds for 2016
\nAll green in Hong Kong Science Park. Image credit: xiquinhosilva (Flickr)
\nIn a historic first for Hong Kong, a property company has issued a green bond.
\nLink Real Estate Investment Trust, one of the continent\u2019s largest REITs, issued on Monday a 10-year, USD500-million bond with a coupon rate of 2.875 percent or 145 basis points above U.S. Treasuries.
\nLink\u2019s green notes was said to have attracted an order book of USD1.65 billion from 88 accounts. The bond will be financing the Kowloon East office development along Kowloon Bay.
\nUnlike ordinary bonds, green bonds must be earmarked for environmentally friendly projects. The Kowloon East project, which covers 884,000 square feet, will uphold standards set by the Hong Kong Building Environmental Assessment Method and undergo certification by the Leadership in Energy and Environmental Design, reported the South China Morning Post.
\nIts target completion date is June 2020.
\nAround 86 percent of the notes went to Asian investors, reported the Nikkei Asian Review. Forty-five percent of creditors consisted of banks, while 5 percent were insurers.
\nLink\u2019s building project, worth HKD10.5 billion (USD1.35 billion), is widely seen as a face-saving effort for the trust, accused of exorbitantly pricing car rents in public housing estates for low-income residents. The trust has also suffered a very public rebuke from Hong Kong Chief Executive Leung Chun-ying.
\nMore: Attack, decay, sustain, release: Time for developers to change their tune?
\nHubert Chak, Link\u2019s finance director, insisted that \u201csustainable development\u201d has always been the trust\u2019s \u201ccore value.\u201d According to The Standard, Link\u2019s office project will rise up to certain green building standards.
\nMeanwhile, in mainland China, residents are grappling with record levels of smog and pollution in recent years. Seemingly in atonement, China grew to become the biggest issuing nation for green bonds in the first half of 2016, then issuing USD8.9 billion in notes.
\nThis month alone, Bank of China sold an unprecedented USD3.03 billion in green bonds.
\nSustainability is an agenda that seems to imbue Asian property development lately, with green buildings rising everywhere from Seoul to Kuala Lumpur.
\nSingapore was recently voted the world\u2019s second-best city for green buildings, while the Taipei 101 in Taiwan was certified as the world\u2019s tallest green building.
\nRead next: Disaster architecture: Rising from the ashes
\n
\n
\nSource : property-report.com
\nRead more…Property company issues green bond, a first for Hong Kong<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Meanwhile, mainland China has become the biggest issuer of green bonds for 2016 All green...<\/p>\n","protected":false},"author":1,"featured_media":0,"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-20758","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5oO","jetpack-related-posts":[{"id":143048,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-homebuyers-snap-up-uptown-east-flats-worth-us179-million-in-kowloon-bay-as-market-rebounds-after-curbs-removal\/","url_meta":{"origin":20758,"position":0},"title":"Hong Kong homebuyers snap up Uptown East flats worth US$179 million in Kowloon Bay, as market rebounds after curbs removal","date":"March 17, 2024","format":false,"excerpt":"\r Some 238 of the 336 units available in the first batch at Uptown East in Kowloon Bay, worth about US$179 million, found buyers as of 6pm on Sunday, in a sign that the removal of all market-cooling measures has revived demand in Hong Kong.\r \r Source : South China\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":170512,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kowloon-east-site-attracts-nine-bids-as-hong-kong-housing-outlook-brightens\/","url_meta":{"origin":20758,"position":1},"title":"Kowloon East site attracts nine bids as Hong Kong housing outlook brightens","date":"February 6, 2026","format":false,"excerpt":"\r Hong Kong\u2019s tender for a 3,132 square metre (33,712 sq ft) residential plot in Ngau Tau Kok, Kowloon East, has drawn nine bids, according to the Development Bureau. 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