Farrer Park, UOB partner on Singapore’s first green loan for healthcare facility
Proceeds from US$88.3 million offering will be used for refinancing
18 Sep 2020 | The Asset

The Farrer Park Company has obtained a S$120 million (US$88.3 million) green loan from United Overseas Bank (UOB), the first such loan for a healthcare facility in Singapore.

The loan is issued under the UOB Real Estate Sustainable Finance Framework and will be used to re-finance Connexion, Singapore’s first integrated healthcare and hospitality complex, which houses the Farrer Park Medical Centre, Farrer Park Hospital and One Farrer Hotel.

The credit supports The Farrer Park Company’s continued efforts in ensuring that it is environmentally responsible in its operations. One of the features already implemented in Connexion’s design is the use of low-emissivity glass to reflect heat and to keep cool air within its premises for more efficient energy consumption.

Connexion’s management also actively monitors energy and water consumption and pursues opportunities to lower its carbon footprint. Connexion has been certified as a Green Mark Platinum building by the Singapore Building and Construction Authority since 2011, the highest distinction in the green building rating system. To be recognised and re-certified as a Green Mark Platinum building, the complex needs to meet a list of performance metrics, including achieving at least 30% in energy savings as compared with developments of a similar size.

“Environmental sustainability has been in our DNA since our inception,” says Peng Chung Mien, CEO of The Farrer Park Company. “Becoming the first healthcare building to receive the green loan underscores our commitment to reduce our carbon footprint and prove how sustainability can go hand in hand with design, quality and service.”

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