Frasers Property obtains S$785 million green club loan for Northpoint City South Wing

Singapore five-dollar note Photo by Leslie Shaffer

Frasers Property said on Wednesday it secured S$785 million five-year green club loan, which will be used to refinance existing loans for the development of its Northpoint City South Wing mall.

The loan, which was drawn down by indirect wholly owned subsidiary Frasers Property North Gem Trustee, was made under the LMA/APLMA Green Loan Principles, the filing to SGX after the market close on Wednesday said.

Northpoint City includes a 920-unit condominium, two retail mall wings with a combined net lettable area of more than 47,000 square meters, multiple community spaces and green features, the filing said. the South Wing is one of the retail wings.

That includes greenery, low emissivity double-glazed glass, high-efficiency air conditioning and lighting and the use of recycled water for toilet flushing, Frasers Property said.

The South Wing, which has the Singapore Building and Construction Authority’s Green Mark Gold Plus rating, also includes over 500 sheltered bicycle parking lots to support “last-mile” transportation connections with trains and buses, it said.

The latest green loan followed the company’s first one for Frasers Tower in September, the filing said. That green loan was for S$1.2 billion.

Loo Choo Leong, chief financial officer at Frasers Property, said that sustainability needed to be integrated across the business.

“The strong support we have received from banks for both green loans attests to the group’s established track record of developing environmentally-friendly buildings across the markets we operate in and encourages us to continue our progressive efforts at building
sustainable communities and businesses,’ Loo said in the statement.

Correction: This article has been updated to reflect that the Northpoint City development includes a condominium and two retail mall wings; the South Wing is one of the two retail wings. 

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