Investing in a condo has numerous advantages, one of which is the potential to leverage the property’s value for future investments. Countless investors utilize their condos as collateral to secure funding for new investments, which allows them to increase their real estate portfolio. This approach can greatly amplify returns, but it is important to note that it also comes with risks. It is imperative to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. One option for condo investment is the Singapore Condo, which offers a variety of opportunities for investors to grow their real estate portfolio and potentially increase their return on investment.
GuocoLand Expands its Green Financing Portfolio with DBS Bank and OCBC
GuocoLand has recently secured two green facilities from major Singaporean banks, DBS Bank and Oversea-Chinese Banking Corporation (OCBC). The first green facility is a $1.135 billion loan, which will be used to refinance the iconic Guoco Midtown development. The second facility is a $105 million loan, which will be used to refinance the Midtown Bay development.
This is a significant achievement for GuocoLand, as the $1.135 billion green facility is the company’s largest green financing deal to date. Both of these loans have been secured under GuocoLand’s Green Finance Framework, which reflects the company’s commitment to sustainable and environmentally-friendly practices.
According to Group CFO of GuocoLand, Andrew Chew, this refinancing activity allows the company to optimize its capital structure while remaining committed to creating thoughtfully designed spaces that balance economic, environmental, and social factors.
GuocoLand has been actively expanding its green financing portfolio, with a total of about $5 billion secured to date. This includes green facilities for other developments such as Guoco Tower, Lentor Mansion, Lentor Modern, Midtown Modern, and the upcoming Upper Thomson Road Development.
The news of these green facilities has been received positively by investors, as shares in GuocoLand closed flat at $1.45 on Jan 15. This is a reflection of the company’s strong financial standing and commitment to sustainable development.
In addition to these green facilities, GuocoLand has also recently opened the Porsche Singapore Studio at Guoco Midtown, showcasing the company’s dedication to creating innovative and future-focused spaces. With the future of work coming to life at Guoco Midtown’s Network Hub and Publicis Groupe leasing 55,000 sq ft of office space at the development, GuocoLand is well on its way to becoming a leader in sustainable and forward-thinking developments.