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Business Economy

CapitaLand secures first three green loans in India totalling INR17 billion for its business park developments

Kolkata, Nov 18 (UNI) CapitaLand has secured its first three green loans in India, totalling
INR17 billion (S$323 million from DBS Bank India Limited (DBS) and the Hongkong and
Shanghai Banking Corporation Limited India (HSBC India).
The three green loans mark CapitaLand’s first foray in sustainable finance in 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.
The four-and-a-half-year INR6.25 billion (S$118.8 million1) and three-year INR4.25 billion
(S$80.8 million1) 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 INR6.5 billion (S$123.5 million1) green loan
provided by HSBC India will be used to finance the development of International Tech Park
Pune, Kharadi.
Vinamra Srivastava, CEO, Business Parks, CapitaLand India, said: “CapitaLand places
sustainability at the core of what we do. We integrate sustainability into every stage of our
real estate life cycle, from investment to design, development and operations, garnering
international recognition for our efforts in greening our business parks. The securing of the
first green loans in India demonstrates CapitaLand’s commitment to grow our business in
a responsible manner as we create long-term value for our stakeholders. We are glad to
work with like-minded partners such as DBS and HSBC who support CapitaLand’s aim to
develop greener buildings while continuing to contribute to the environmental and social
well-being of our communities.”
Chew Chong Lim, Managing Director & Global Head of Real Estate, Institutional Banking,
DBS, said: “DBS and CapitaLand have built a meaningful relationship over the years and in
more recent times deepened our collaboration in finding sustainable financing solutions for
green developments. We are delighted to partner CapitaLand on two green loans, which are
also the first by any Singapore-based lender in India. 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.”
Hitendra Dave, Head, Global Banking & Markets, HSBC India, said: “We are delighted to
have supported CapitaLand on multiple landmark green loan transactions across their portfolio
in Singapore and India. As we enter a pivotal decade of change, we look forward to supporting CapitaLand as their banking partner in building a healthier, more resilient, and more sustainable
As part of CapitaLand’s 2030 Sustainability Master Plan, the Group aims to green its entire
global portfolio by 2030. CapitaLand Limited also targets to secure S$6 billion through
sustainable finance such as sustainability-linked loans, green loans and green bonds. This is
triple the S$2 billion raised to date through sustainable finance. With the addition of the three
green loans in India, CapitaLand Group including its business units and real estate investment
trusts have raised a total of more than S$3.6 billion through sustainable finance thus far.
In India, CapitaLand has a strong presence with a portfolio of over 20 business and IT
parks, industrial, lodging and logistics properties across seven cities – Bangalore, Chennai,
Goa, Gurgaon, Hyderabad, Mumbai and Pune. The Group is a key contributor to India’s IT
industry development, having pioneered the renowned International Tech Park Bangalore in
1994. CapitaLand has deep expertise in India across the full real estate value chain - from
owning, developing and managing properties to fund management through Ascendas India
Trust and private funds.
CapitaLand is a winner of the prestigious 6th Indian Green Building Council Green
Champion Award for the category – ‘Developer leading the Green Building Movement in
India (Commercial)’ in 2019. It has 28 green buildings within its properties in India.
The Group has adopted various measures to reduce its carbon footprint. The initiatives
include the use of onsite and offsite solar energy, energy efficient glass facade, green
construction materials, energy efficient high-performance chillers, 100% LED light fixtures,
and demand-controlled ventilation. The Group has also initiated measures to ensure zero
wastage and reduce single-use plastic usage across its business parks. As part of its
digital initiatives, CapitaLand has also set up an Internet of Things-driven intelligent building
platform that improves energy efficiency in its properties through real-time data analysis
and performance monitoring.
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