Bookmark & Share
M+S intends to use the proceeds of the green loan to partially refinance Marina One’s office and retail components, which are valued at around $5 billion.
Property company M+S, via its subsidiary MS Commercial, has obtained a $1.95 billion green loan from three banks.
With DBS, OCBC Bank and United Overseas Bank (UOB) serving as joint green loan advisors and mandated lead arrangers, the loan is the largest green loan by a real estate company within Asia Pacific to date.
M+S intends to use the proceeds of the green loan to partially refinance Marina One’s office and retail components, which are valued at around $5 billion, reported Singapore Business Review.
Situated within the new financial hub of Marina Bay, the Marina One East and West Towers feature 1.88 million sq ft of Grade-A office space, which include two high-density floors cantilevered across the two towers.
The property’s tenants include Facebook, PwC, Julius Baer, Mitsubishi UFJ Financial Group (MUFG), Rajah and Tann, Netflix as well as Prudential.
Meanwhile, Marina One’s residential component – Marina One Residences – will not be part of the green loan package.
Marina One Residences comprises 1,042 luxury units spread across two towers, of which over 80% have been sold.
To conserve energy and boost efficiency, Marina One uses innovative technologies such as the recycling of heat and power, energy-saving building management systems, rainwater harvesting for irrigation purposes and high-performance solar glazing.
Recommended article: 4 Green Features in HDB Towns That Are Helping Save the World!
Looking for a property in Singapore? Visit PropertyGuru’s Listings, Project Reviews and Guides.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg