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OCBC makes first property green loan in South Korea

OCBC Bank has provided some sort of alternative loan of 115 thousand South Korean won (S$132. 6 million) to help M&G Real Estate Japan to refinance an investment in Northgate, a alternative building in Seoul's middle business district, with all the bank as the sole provider and green mechanic.

The loan is South Korea's initial green loan supporting the home field, OCBC said throughout some sort of statement on Thursday (Aug 21). It can be also the bank's earliest environmentally friendly finance transaction in the country.

The money takings will be used to help refinance existing advances inside M&G Asia Property Fund, which has been extended for typically the investment in Northgate. Typically the fund is managed simply by M&G Properties Asia.

Northgate is a high-rise business office building with green functions, which include rainwater recycling techniques, water-efficient fixtures, LED lights in common areas, and making automation systems for you to control heat, ventilation, air flow conditioning and lights. 햇살론 -friendly materials are also applied inside building's cleaning plus general upkeep.

In 2016, Northgate received the Command throughout Energy and Ecological The design of Existing Buildings Businesses in addition to Servicing Gold score from your US Green Building Council.

OCBC Bank scalp of global corporate banking Elaine Lam said the lender is looking to increase its sustainable finance stock portfolio to S$25 billion by way of 2025.


Stocks of OCBC had been straight down eight pence or maybe zero. 9 per dime to $8. 80 on an ex-dividend time frame at the midday break about Friday.

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