Bookmark & Share
LOGOS has obtained a $64.35 million green loan to redevelop its industrial property at 2 Tanjong Penjuru Crescent.
This comes as the company partnered Standard Chartered Bank (Singapore) and RHB Bank Berhad for a 2.5-year green financing package, which includes a green interest rate swap (IRS) that is linked to the property’s green certification.
In April 2021, 2 Tanjong Penjuru Crescent received a BCA Green mark Award (Platinum) for the extensive sustainability features that will be incorporated into the design of the property.
LOGOS, in partnership with CSC Holdings Limited, intends to redevelop the four-storey industrial property into a modern six-storey ramp-up logistics facility spanning 46,000 sq m.
With an estimated development cost of $108 million, the new facility will feature office space, roof top parking and a cafeteria. It will also include a high specification workshop for CSC Holdings, which has committed “to a long-term pre-lease for the property on completion”.
“Sustainability is a key driver for our business, and we are very pleased to be partnering with Standard Chartered and RHB on this green loan and IRS for 2 Tanjong Penjuru Crescent. This is our third green loan in Singapore in the past 12 months, highlighting our ongoing commitment to investing in sustainable solutions across our regional portfolio,” said LOGOS’ Managing Director Stephen Hawkins.
Situated within the established Jurong Industrial Estate, 2 Tanjong Penjuru Crescent enjoys convenient access to the Jurong Lake District and the Central Business District (CBD) and is well served by expressways such as the Ayer Rajah Expressway as well as the West Coast Highway.
Eugenia Liew, Senior Digital Content Specialist at PropertyGuru, edited this story. To contact her about this or other stories, email eugenialiew@propertyguru.com.sg.