The DBS Bank very recently has decided to invest ₹1,050 crores as the first two green loans by the bank ever to CapitaLand as an initiative to grow its sustainable financial footprint in the country. The bank was very proud to announce that this was the first green loan between a Singaporean bank and India.
The DBS Bank issued a ₹425 crore loan which will be for the next three years under which the development of the first phase of the International Tech Park Gurgaon and other matters of the project. The plan for this site is to develop the 8 million square feet of business space by dividing them into phases.
The other project to be funded by the DBS Bank is a similar project situated in Chennai. They are providing a loan of ₹625 crores over a four-and-a-half-year period which will cover the construction costs of the International Tech Park’s (Chennai- Radial Road) phase 1. This will be located in the premium IT corridor of Chennai spread over 4.6 million square feet to accommodate A-grade office spaces to over 45,000 professionals.
The International Tech Park Gurgaon has already earned a pre-certified ‘platinum’ rating under Leadership in Energy and Environmental Design managed by the US Green Building Council.
The DBS bank through these initiatives hopes to show the world how progressive sustainable development can be and also leading a path of establishing Singapore as a sustainable finance hub that is professional and is an expert in the field of sustainable development, especially in Asia.
The company also issued a statement in which they said that India has a lot of opportunities to offer in the field of sustainable financing and can help the DBS bank continue to work according to their business values and ethos.
CapitaLand is one of Asia’s largest real estate groups, headquartered and listed in Singapore.