Prosperity REIT will be eligible for loan interest savings upon achieving pre-determined environmental, social and governance (ESG) performance metrics with emphasis on:
Driven by the REIT’s “Sustainability Vision 2030” initiative, Prosperity REIT strives to align its ESG roadmap with the United Nations Sustainable Development Goals by closely monitoring the implementation and progress of targets under four key pillars: Nature, People, Building/Services and Community. Over the years, Prosperity REIT actively manages the environmental performance of its operation and received various professional recognitions and awards, including an Excellent Grade of BEAM Plus Existing Building (Energy Use) awarded by Hong Kong Green Building Council in 2020. The financial incentive will reinforce the REIT’s commitment to long-term sustainability.
Mr. Alex Cheung, Managing Director of Head of Institutional Banking Group in DBS, said, “We are delighted to advise and support Prosperity REIT as they forge ahead on their journey towards sustainability. As we continue to pursue our sustainability goals with SGD 50 billion commitment this year towards sustainable finance, we look forward to forging more collaborations with like-minded partners like Prosperity REIT who are accelerating towards more carbon efficient operations and a better future.”
Ms. Mavis Wong, CEO and Executive Director of the REIT Manager, said, “At Prosperity REIT, we take our role as ‘corporate citizen’ seriously and firmly believe in integrating sustainability into our company culture. With our partnership with DBS, we hope to continue creating long-term value for our stakeholders and the community through our Vision 2030.”
As part of its long-term sustainability efforts, DBS seeks to address ESG challenges by providing businesses with credit to facilitate responsible trade and investment flows. The bank is committed to supporting its customers who are willing to invest in building the capacity to manage ESG risks by encouraging them to benchmark themselves against international best practices while contributing to the development of best practices overall. Under its approach to sustainable financing, the bank also endeavours to help its customers in key industries such as real estate transition to a low-carbon economy by leveraging on green solutions to make a meaningful impact.
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About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 12 consecutive years from 2009 to 2020.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
About Prosperity REIT
Prosperity REIT [SEHK: 808] is a Hong Kong collective investment scheme authorized under section 104 of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Prosperity REIT is the first private sector real estate investment trust (“REIT”) listed on The Stock Exchange of Hong Kong Limited on 16 December 2005. It owns a diverse portfolio of seven high-quality properties in the decentralized business districts of Hong Kong, comprising all, or a portion of, three Grade A office buildings, one commercial building, two industrial/office buildings and one industrial building, with a total gross rentable area of about 1.28 million sq. ft.. Prosperity REIT is managed by ARA Asset Management (Prosperity) Limited, the REIT Manager. For more information, please visit www.prosperityreit.com.
About ARA Asset Management (Prosperity) Limited, the REIT Manager
The REIT Manager is a wholly-owned subsidiary of ARA Asset Management Limited (“ARA”), the largest real assets manager in Asia Pacific. ARA manages REITs and private funds in real estate, infrastructure and credit globally. The REIT Manager is responsible for the management and administration of Prosperity REIT, as well as the implementation of Prosperity REIT’s business strategies. For more information, please visit www.ara-group.com.
Disclaimer
The information contained in this press release does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for units in Prosperity REIT in Hong Kong or any other jurisdiction.
