Hong Kong developer Swire Properties obtains HK$1b green loan from OCBC

SWIRE Properties has signed a five-year HK$1 billion (S$177.4 million) green loan with OCBC Bank.

The move is part of the Hong Kong-listed developer's efforts to implement green initiatives at its properties around the world and drive green financing in the real estate industry, it said on Tuesday in a press statement.

The green loan will fund ongoing green building developments and allow Swire Properties to adopt environmentally-friendly technologies to save energy and reduce water usage and waste, among other things.

One of the projects that will benefit from the loan is Two Taikoo Place - a new triple Grade-A office tower in Hong Kong which is set to launch in 2022 and has incorporated "many green features" in its design, Swire Properties said.

Guy Bradley, chief executive of Swire Properties, said the latest green financing programme will bring the developer one step close to reaching its Sustainable Development 2030 Strategy goals and fulfil its "mission of building vibrant sustainable communities".

Tan Wing Ming, OCBC Bank regional general manager for North-east Asia, said sustainable finance is becoming more mainstream in Hong Kong thanks to the leadership by businesses such as Swire Properties.

"With growing interest from our clients, Hong Kong will continue to be an important market for us as we work towards our goal of building a S$25 billion sustainable finance portfolio by 2025," Mr Tan added.

Shares of OCBC were trading up 1.1 per cent or S$0.09 to S$8.61 as at 4pm on Tuesday.