CapitaLand has secured its first three green loans in India, totaling Rs 1700 crore from DBS Bank India Limited (DBS) and The Hongkong and Shanghai Banking Corporation Limited India (HSBC India).
Proceeds from the green loans will be used to finance the development of its green-certified International Tech Parks in Chennai, Gurgaon, and Pune.
Vinamra Srivastava, CEO, Business Parks, CapitaLand India, said: “CapitaLand places sustainability at the core of what we do. The securing of the first green loans in India demonstrates CapitaLand’s commitment to responsibly growing our business as we create long-term value for our stakeholders. CapitaLand’s aim to develop greener buildings while continuing to contribute to the environmental and social well-being of our communities.”
The four-and-a-half-year Rs 625 crore and three-year Rs 425 crore green loans provided by DBS will be used to finance the development of Phase 1 of International Tech Park Chennai, Radial Road, and Phase 1 of International Tech Park Gurgaon respectively. The four-year Rs 650 crore green loan provided by HSBC India will be used to finance the development of International Tech Park Pune, Kharadi.
Chew Chong Lim, Managing Director & Global Head of Real Estate, Institutional Banking, DBS, said: “Sustainable financing in the real estate sector will continue to gain prominence in Asia, and DBS looks forward to collaborating with our customers in developing responsible financing solutions to meet the sustainability challenges ahead of us.”