This is Prosperity REIT’s second green financing initiative, following its maiden five-year HK$800 million sustainability-linked term loan closed with DBS Hong Kong in 2021, which serves as the loan’s sole hedging bank. The Bank will provide a hedge against interest rate for Prosperity REIT’s bank facilities during the tenor of the loan.
To maximise community impact, Prosperity REIT will also collaborate with The Evangelical Lutheran Church of Hong Kong to initiate at least two community events this year in support of the “coMarket Community Value Creation” vision that aims to nurture a new generation and drive the exchange of resources and skills. Upon completion of the events, Prosperity REIT will be entitled to a sponsorship from DBS Hong Kong to help further its efforts in achieving “Sustainability Vision 2030” that encompasses the four key pillars of Nature, People, Building/Services and Community.
Mavis Wong, CEO and Executive Director of ARA Asset Management (Prosperity) Limited said, “Prosperity REIT’s corporate vision revolves around building a sustainable environment and enhancing the well-being of our stakeholders. In fact, 100% of our portfolio is now green building certified – marking a significant milestone in our sustainability journey. On top of being excited about entering another green financing arrangement with DBS Hong Kong, we are proud to be working in collaboration with DBS and The Evangelical Lutheran Church of Hong Kong to make a positive impact in the community.”
Wallace Lam, Managing Director and Deputy Head of Institutional Banking Group. DBS Bank (Hong Kong) Limited remarked, “At DBS Hong Kong, we not only aspire to support our clients in achieving their sustainability goals, but also strive to leave a positive impact on the society at large through our green financing services and meaningful collaboration. We are delighted to embark on our second sustainability-linked journey with Prosperity REIT, as we work towards creating value for the community and building a sustainable development platform together for the next generation in Hong Kong.”Prosperity REIT has entered into its first sustainability-linked interest rate swap with DBS Hong Kong, which will see the REIT collaborating with The Evangelical Lutheran Church of Hong Kong to initiate community events this year in support of the “coMarket Community Value Creation” vision.
[End]
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 and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021. 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, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting social enterprises: businesses with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping communities with future-ready skills and building food resilience.
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
ARA Asset Management (Prosperity) Limited (the "REIT Manager") is the manager of Prosperity REIT. The REIT Manager is a wholly-owned subsidiary of ARA Asset Management Limited which is part of the ESR Group, APAC’s largest real asset manager powered by the New Economy and the third largest listed real estate investment manager globally. For more information, please visit www.esr.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.
