The green loan is aimed at refinancing smart, eco-sustainable business park development, ALICE@Mediapolis, and extended to Boustead Projects’s joint venture special purpose vehicle BP-Dojo LLP. Image: ALICE@Mediapolis via Google Street View
Boustead Projects has secured its first green loan of about $130 million from UOB to refinance smart, eco-sustainable business park development, ALICE@Mediapolis.
The loan was extended to BP-Dojo LLP, a joint venture special purpose vehicle of Boustead Projects under the Boustead Development Partnership (BDP).
BP-Dojo developed and owns Alice, which has been conferred the Green Mark Platinum by the Singapore Building and Construction Authority, a first for the property projects of BDP.
In an SGX filing, Boustead Projects revealed that 80% of Alice’s constructed floor area utilised greener building methodologies such as prefabricated building systems, helping minimise construction waste.
The development’s energy-saving implementations include double glazed low-emissivity glass to lower heat inflow, a district cooling system, a daylight design for the atrium, a full LED lighting system that is further controlled by motion sensors at common areas and a 100 kilowatt-peak rooftop solar panel array.
It also features a rainwater harvesting system “to recycle captured rainwater towards water intensive horticultural and toilet flushing purposes” as well as sub-metering systems to encourage responsible use of water and energy.
“The growing availability of green loans or sustainability-linked loans at competitive interest rates and borrowing terms has broadened the financing and refinancing options available to our development and asset management businesses, and further underscores the commercial advantages of investing in smart eco-sustainable projects, which bring vast economic, environmental and social benefits to society in the long-term,” said Boustead Projects’ Managing Director Thomas Chu.
Meanwhile, Frederick Chin, Head of Group Wholesale Banking and Markets at UOB, said: “We are pleased to help our longstanding client Boustead Projects with its first green loan in the region, especially as it will result in showcasing how environmentally-friendly designs can contribute to a better built environment. In collaborating with like-minded partners such as Boustead Projects, we are helping to forge a sustainable future.”