UOL bags $120m green loan from UOB

The 23-storey hotel is targeted to open in 2021.

UOL Group has secured a $120m three-year term green loan from United Overseas Bank (UOB) to redevelop Pan Pacific Orchard into a lush green 347-room hotel, an announcement revealed.

In line with the Green Loan Principles published by the Loan Market Association, the proceeds from the green loan facility will be used to partially finance the redevelopment of Pan Pacific Orchard, an eligible green asset, into a biophilic hotel. Biophilic design is a design concept that seeks to integrate nature with the built environment.

Pan Pacific Orchard was closed for redevelopment in April 2018 and is targeted to open in 2021. The 23-storey hotel will offer rooms with eco-friendly features, and three curated sky terraces with a green replacement ratio of more than 200%. The hotel’s sky terraces are designed to be self-sustaining, featuring a rainwater harvesting system and solar cells to light up the gardens and power the irrigation.

The design of the terraces also optimises natural daylight and facilitates cross ventilation, reducing overall dependency on energy usage. Other sustainable features of the hotel include a food waste management system that transforms kitchen waste into nutrient water for gardens, and water dispensers that eliminate the need for plastic bottled water.