CapitaLand secures ₹1,700-cr funds for building Tech Parks

CapitaLand has secured its first three green loans in India, of around ₹1,700 crore, from DBS Bank India Limited (DBS) and Hongkong and Shanghai Banking Corporation Limited India (HSBC India). Proceeds from the loans will be invested to finance the development of its green-certified International Tech Parks across Chennai, Gurgaon and Pune. Vinamra Srivastava, CEO, Business Parks, CapitaLand India, informed that securing the first green loans in India demonstrates CapitaLand's commitment to grow its business responsibly as it creates a long-term value for stakeholders. CapitaLand aims to develop greener buildings while continuing to contribute to the environmental and social well-being of communities. The four-and-a-half-year ₹625 crore (S$118.8 million1) and three-year ₹425 crore (S$80.8 million1) green loans provided by DBS will be used to finance the development of Phase 1 of the International Tech Park Chennai, Radial Road and Phase 1 of International Tech Park Gurgaon respectively. The four-year ₹650 crore (S$123.5 million1) green loan of HSBC India will be used to finance the development of International Tech Park Pune, Kharadi. Chew Chong Lim, MD & Global Head of Real Estate, Institutional Banking, DBS India, said that sustainable financing in the real estate sector will continue to gain prominence in Asia, and DBS looks forward to collaborating with its customers in developing responsible financing solutions to meet the sustainability challenges ahead.