Boustead Projects has secured a $70 million green loan to refinance Razer SEA HQ at one-north.
The loan is extended to Snakepit-BP, a joint venture of the company set up for the development of Razer SEA HQ. The four-year secured green loan will be under UOB’s Sustainable Finance Framework for Green Building Developers and Owners.
Razer SEA HQ homes over 550 Razer employees. The development comprises approximately 19,300 sq m in gross floor area across seven floors.
Developed by Snakepit and managed by Echo Base-BP Capital — also Boustead Projects’ joint venture firm — Razer SEA HQ has a committed occupancy of 100% as at March 31.
Designed with sustainability in focus, the development incorporates 380 solar panels on its rooftop, generating 256,000 kWh of energy annually.
“This marks our second green loan from UOB to date,” says Boustead Projects head of real estate Samuel Lim. “Boustead Projects continues to look out for available sustainability-linked financing options for our real estate business that would support our commitment to building a greener and more resilient tomorrow,” he adds.
See also: A US$12 bil climate fund is readying a rare bond issuance
Shares in Boustead Projects closed flat on Sept 11 at 95.5 cents.
