COMMERCIAL PROPERTY | Staff Reporter, Singapore

ARA, Chelsfield acquire $385.8m green loan for 5One Central

The green loan came from DBS and UOB.

ARA Asset Management Limited (ARA) and Chelsfield have secured a $385.8m green loan from DBS Bank and United Overseas Bank Limited (UOB) for the acquisition and asset enhancement of their joint venture 5One Central.

The loan is issued under the green loan framework developed by both companies, in line with their commitment to developing and designing buildings that achieve the highest standard of sustainability.

5One Central is expected to receive the Green Mark Platinum certification by the Building and Construction Authority once the asset enhancement is completed in the second half of 2021.

The building will also boast several green features, including CO2 sensors to regulate fresh air supply, occupancy sensors to optimize lighting usage, paper and plastic recycling facilities, electric vehicle charging facility and a high efficiency variable and constant air-distribution system.

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