LOGOS gets S$64.4m green loan for Tanjong Penjuru Crescent property

Vivienne Tay

Published Thu, Sep 30, 2021 · 11:27 AM

PROPERTY group LOGOS has obtained a S$64.4 million green loan to redevelop its 2 Tanjong Penjuru Crescent industrial property, it said on Thursday.

LOGOS, in partnership with engineering specialist CSC Holdings, will spend S$108 million to turn the existing four-storey property into a 46,000 square metre modern six-storey ramp-up logistics facility with office space, a cafeteria and rooftop parking.

The new facility will also include a high-specification workshop for mainboard-listed CSC Holdings, which has committed to a long-term pre-lease for the property on completion.

The group, which wholly owns the manager of Singapore-listed ARA LOGOS Logistics Trust, partnered Standard Chartered and RHB for a 2.5-year green financing package. The green loan includes a green interest rate swap linked to the property's green certification.

In April 2021, 2 Tanjong Penjuru Crescent received a BCA Green Mark Platinum award for its extensive sustainability features, which will be incorporated into the design of the property.

The development is located within the Jurong Industrial Estate and is served by major expressways including the Ayer Rajah Expressway and West Coast Highway. LOGOS said the property enjoys convenient access to the central business district and the Jurong Lake District.