Ascott Residence Trust Secures S$50 Million (US$37.7 Million) Green Loan
January 14, 2021 – Ascott Residence Trust (ART) has obtained a S$50 million five- year green loan from DBS Bank Ltd (DBS), making ART the first hospitality trust in Singapore to secure a green loan.
Proceeds from the green loan will be used to finance ART’s maiden development project and coliving property, lyf one-north Singapore. lyf one-north Singapore is one of ART’s 15 properties that attained green certifications in 2020, bringing the total number of ART’s green properties to 21. This is about four times more green-certified properties compared to 2019.
lyf one-north Singapore achieved the Green Mark GoldPLUS award by Building and Construction Authority of Singapore (BCA) in 2020. The 324-unit coliving property will be fitted with green, energy-efficient and smart building features.
This includes an energy monitoring system, dual- technology motion sensors and light-emitting diode (LED) light fixtures which can achieve energy savings of over 30%.
The energy monitoring system and motion sensors will monitor and automatically optimise the level of energy consumption depending on the number of occupants in the apartment.
Each apartment will also be equipped with an energy-efficient centralised heat pump for its hot water system, and a variable refrigerant flow (VRF) air-conditioning system to reduce water and energy consumption. The property will also feature sun-shading fins as part of its unique window design to reduce façade solar heat gain.
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