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The Beach Terrace (artist’s impression) is an elevated urban beach with white-washed shore, water lagoon and palm groves and one of three sustainably-designed sky terraces. Photo: UOL Group.
UOL Group has obtained a $120 million three-year term green loan from United Overseas Bank Limited (UOB) to redevelop Pan Pacific Orchard hotel.
The proceeds of the green loan, which is the first for the group, will be used to partially fund the redevelopment of Pan Pacific Orchard into a 347-room biophilic hotel.
Biophilic refers to a design concept which seeks to integrate nature into the built environment.
Closed for redevelopment in April 2018, Pan Pacific Orchard is slated to open in 2021, offering rooms with eco-friendly features as well as three curated sky terraces “with a green replacement ratio of more than 200%”.
In a release, UOL revealed that the sky terraces are “designed to be self-sustaining, featuring rainwater harvesting system and solar cells to light up the gardens and power the irrigation”.
The terraces’ design also optimises natural daylight as well as facilitate cross ventilation, reducing overall dependency on energy usage.
Other sustainable features include water dispensers which eliminate the need for plastic bottled water and a food waste management system which transforms kitchen waste into nutrient water for gardens.
Liam Wee Sin, Chief Executive of UOL Group, said the inaugural green loan demonstrates the company’s commitment in greening Singapore’s urban habitat.
“Pan Pacific Orchard will contribute to our government’s vision to transform Orchard Road into a green oasis in the city.”
Meanwhile, UOB’s Head of Corporate Banking Singapore Leong Yung Chee noted that while the tourism industry is “currently feeling the effects of COVID-19, UOL’s move to redevelop the Pan Pacific Orchard will position Singapore well for a future where sustainable tourism is given more focus”.