.The latest green initiatives by GuocoLand come in the form of two green facilities secured from DBS Bank and Oversea-Chinese Banking Corporation. The first facility is a substantial $1.135 billion green facility which will be used for the refinancing of Guoco Midtown, the company’s prime mixed-use development. This marks the largest green facility secured by GuocoLand to date, a testament to the company’s commitment towards sustainability and responsible building practices.The second green facility, valued at $105 million, is intended for the refinancing of Midtown Bay, another development under Guoco Midtown. With these latest green financing initiatives, GuocoLand has raised a total of $5 billion in green financing, including facilities for other projects such as Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.According to Andrew Chew, Group CFO of GuocoLand, this refinancing activity allows the company to optimize their capital structure while remaining true to their commitment towards creating thoughtfully designed spaces that consider economic, environmental, and social factors.
Investing in condominiums in Singapore also takes into account the property cooling measures implemented by the government. In efforts to maintain a steady real estate market and discourage speculative buying, the Singaporean government has introduced various measures over the years. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those purchasing multiple properties. Although these measures may have an impact on the short-term profitability of condo investments, they ultimately contribute to the long-term stability of the market and create a secure investment environment. Therefore, it is important to carefully consider these measures when making a decision to invest in a condo in Singapore.
As part of its ongoing efforts towards sustainability, property developer GuocoLand has recently secured two green facilities from DBS Bank and Oversea-Chinese Banking Corporation. The first facility, valued at $1.135 billion, will be used to refinance Guoco Midtown, the company’s prime mixed-use development. This marks the largest green facility secured by GuocoLand to date, highlighting the company’s commitment to sustainable and responsible building practices.
In addition, the company also secured a second green facility worth $105 million for the refinancing of Midtown Bay, another project under Guoco Midtown. So far, GuocoLand has raised a total of $5 billion in green financing, including facilities for developments such as Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.
GuocoLand’s Group CFO, Andrew Chew, states that this refinancing activity allows the company to optimize its capital structure while staying true to its commitment towards creating thoughtfully designed spaces that balance economic, environmental, and social factors.
Shares in GuocoLand closed at $1.45 on Jan 15. The company also recently announced that the Porsche Singapore Studio has opened a duplex showroom at Guoco Midtown, further highlighting the development’s appeal and potential. With the future of work coming to life at Guoco Midtown’s new Network Hub, it’s clear that the company is dedicated to creating sustainable and modern spaces for businesses and individuals alike.
Publicis Groupe, a leading global communications and marketing solutions company, has also chosen to lease 55,000 square feet of office space at Guoco Midtown. This is a testament to the development’s strategic location and amenities, cementing its position as a prime choice for businesses looking for a sustainable and well-designed workplace.
Overall, GuocoLand’s commitment to sustainability and green financing initiatives has established them as a leader in responsible development. With their latest projects like Guoco Midtown and Midtown Bay, the company continues to shape the landscape of modern and eco-friendly buildings in Singapore.