CDL and MCL Land jointly secure green loans totalling S$847 million for two upcoming residential developments

City Developments Limited (CDL) and MCL Land are pleased to announce the successful securing of green loans amounting to S$847 million for the financing of two upcoming developments in Singapore, under a 50:50 joint venture (JV). Earlier in May this year, CDL and MCL Land were awarded two Government Land Sales (GLS) plots at Northumberland Road and Tengah Garden Walk Executive Condominium (EC), having placed the top bids at both sites. The 4.5-year S$429 million green loan financing package for Northumberland Road is provided by DBS Bank Ltd. (DBS), the…

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CDL Pledges Net Zero Operations By 2030

City Developments Limited (CDL) has become the first real estate developer in Singapore and the first real estate conglomerate in Southeast Asia to sign the WorldGBC’s Net Zero Carbon Buildings Commitment. Given the high environmental impact of the Built Environment, the Commitment challenges businesses to take leadership action to reach net zero carbon in operation for every building under their direct control by 2030, and advocates for all buildings to be net zero carbon in operation by 2050. By joining the Commitment, CDL is dedicated to achieving net zero carbon…

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CDL secures S$470 million green revolving credit facility; demonstrates continued commitment to expand its green financing streams

City Developments Limited (CDL), through its wholly-owned subsidiary CDL Properties Ltd (CDLP), has secured a green RCF amounting to S$470 million, for the refinancing of Republic Plaza – CDL’s flagship commercial property in the heart of Singapore’s Central Business District, and on-lending to CDL’s eligible green projects1 as defined in the CDL Sustainable Finance Framework. CDL’s Sustainable Finance Framework was developed and adopted when its SDG Innovation Loan was launched in 2019. It demonstrates how CDL and its group entities intend to fund projects or innovation that will deliver social…

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