CapitaLand secures $228 mn in green loans for India business parks
Photo Credit: VCCircle

Singapore-based CapitaLand has secured its first three green loans in India from DBS Bank and HSBC, the real estate group said Wednesday.

The three loans – totalling Rs 1,700 crore ($228 million) – will be used to finance the development of its green-certified International Tech Parks in Chennai, Gurugram and Pune, CapitaLand said in a statement.

The green loans will support CapitaLand’s aim to develop greener buildings while contributing to the environmental and social well-being of communities, said Vinamra Srivastava, CEO of business parks at CapitaLand India.

CapitaLand has set a target to make its entire global portfolio green over the next decade as per its 2030 Sustainability Master Plan. It also seeks to secure S$6 billion through sustainable finance such as sustainability-linked loans, green loans and green bonds. This is triple the S$2 billion raised to date through sustainable finance.

With the addition of the three green loans in India, CapitaLand Group including its business units and real estate investment trusts have raised a total of more than S$3.6 billion through sustainable finance thus far.

In India, CapitaLand has a strong presence with a portfolio of over 20 business and IT parks, industrial, lodging and logistics properties across seven cities – Bengaluru, Chennai, Goa, Gurugram, Hyderabad, Mumbai and Pune.

CapitaLand is one of Asia’s largest diversified real estate groups. It owns a global portfolio worth about S$133.3 billion as of September 30.

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