The green loan was obtained from OCBC Bank and RHB Bank Berhad.

Soilbuild Business Space REIT (“Soilbuild REIT” or “the REIT”) a SGX-listed Singapore real estate investment trust focusing on business spaces in Singapore and Australia, has obtained an AUD equivalent green loan of S$80 million from OCBC Bank and RHB Bank Berhad.

The proceeds from this maiden green loan will be used to refinance its iconic project Solaris@one-north, a business space complex that is part of the Fusionopolis cluster in Singapore.This green loan was raised under the REIT’s newly established Green Finance Framework (“Framework”), which was developed together with OCBC Bank, as a Green Loan Advisor.

The Framework was prepared in accordance with the relevant international principles and guidelines, including the Green Loan Principles.

Solaris@one-north incorporates a plethora of innovative features - a continuous spiral landscaped terrace that winds its way up to lush roof gardens, a green corridor with central courtyards, and a unique solar shaft that helps create a daylit, naturally ventilated atrium. The 15-storey multitenanted facility is also fitted with sun shading devices to reduce solar heat gain and rainwater harvesters to minimise water consumption.

Solaris@one-north was re-certified and won the highest BCA Green Mark Platinum Award (Existing Non-Residential Buildings) in May 2019, demonstrating the REIT’s commitment to achieving sustainable building operations in its properties.

Said Mr Roy Teo, Chief Executive Officer of the REIT Manager, “Securing our maiden green loan attests to our capital management strategy of diversifying funding sources. It also supports our efforts in delivering longterm value to our stakeholders while creating a more sustainable future.”

Said Mr Linus Goh, Head, Global Commercial Banking, OCBC Bank, “It is increasingly important that capital is channelled to green projects and to sustainability-minded businesses like Soilbuild REIT, given the urgency of the climate change agenda. Soilbuild REIT has championed sustainability since its listing in 2013, and continues to demonstrate its commitment with this maiden green loan. We at OCBC look forward to continue supporting them in their sustainable finance journey, especially as they look to grow their portfolio of green buildings in Singapore and Australia.”

Soilbuild REIT is managed by SB REIT Management Pte. Ltd., a wholly owned subsidiary of Soilbuild Group Holdings Ltd., a leading integrated property group based in Singapore. OCBC Bank’s commitment to sustainable finance led to it topping Bloomberg’s 2019 Mandated Lead Arranger (“MLA”) league table for green loans and renewable energy loans, as well as the 2019 MLA league table for green loans and sustainability-linked loans by intelligence service Debtwire.