UOB grants $120m green loan to Farrer Park Company

It will be used to re-finance Connexion, Singapore’s first integrated healthcare and hospitality complex.

United Overseas Bank (UOB) has granted the Farrer Park Company a $120m (US$88.12m) green loan, according to a press release. This is the first green loan for a healthcare facility in Singapore, UOB said.

The proceeds will be used to re-finance Connexion, the country’s first integrated healthcare and hospitality complex which houses the Farrer Park Medical Centre, Farrer Park Hospital, and One Farrer Hotel.

Connexion’s design already uses low-emissivity glass to reflect heat and to keep cool air within its premises for more efficient energy consumption. Connexion’s management will 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 (BCA) since 2011, the highest distinction in the green building rating system. To be recognised and re-certified as a Green Mark Platinum building, Connexion needs to meet a list of performance metrics, including achieving at least 30% in energy savings as compared with developments of a similar size, the press release said.