Soilbuild REIT property, Solaris@one-north (Photo: Google Maps)Soilbuild REIT property, Solaris@one-north (Photo: Google Maps)

Soilbuild REIT has obtained an AUD equivalent green loan of SGD80 million from OCBC Bank and RHB Bank Berhad.

The proceeds from this maiden green loan will be used to refinance the REIT’s business space complex known as Solaris@one-north.

This green loan was raised under the REIT’s newly established Green Finance Framework, which was developed together with OCBC Bank.

Solaris@one-north incorporates several green features, including a green corridor with central courtyards, and a solar shaft that helps create a daylit, naturally ventilated atrium.

The 15-storey multi- tenanted facility is also fitted with sun shading devices to reduce solar heat gain and rainwater harvesters to minimise water consumption.

“Securing our maiden green loan attests to our capital management strategy of diversifying funding sources”, said Roy Teo, CEO of the REIT’s manager.

“It also supports our efforts in delivering long-term value to our stakeholders while creating a more sustainable future”, he added.

Soilbuild REIT was last done on the Singapore Exchange at SGD0.40, which is a discount of about 33% to book value according to data compiled on the Singapore REITs table.

By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.