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CapitaLand secures green loans of Rs 1,700 crore to develop business parks

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New Delhi, Nov 18 (PTI) CapitaLand on Wednesday said it has secured Rs 1,700 crore green loans from DBS Bank India and HSBC India for the development of business parks in Chennai, Gurugram and Pune.

The three green loans mark CapitaLand's first foray in sustainable finance in India, it said.

'Proceeds from the green loans will be used to finance the development of its green-certified International tech Parks in Chennai, Gurgaon and Pune,' CapitaLand said in a statement.

The green loans provided by DBS will be used to finance the development of Phase 1 of International Tech Park Chennai and Phase 1 of International Tech Park Gurgaon.

The Rs 650 crore green loan provided by HSBC India will be used to finance the development of International Tech Park Pune.

CapitaLand India CEO, Business Parks, Vinamra Srivastava said: 'CapitaLand places sustainability at the core of what we do. We integrate sustainability into every stage of our real estate life cycle, from investment to design, development and operations, garnering international recognition for our efforts in greening our business parks'.

Securing the first green loans in India demonstrates CapitaLand's commitment to growing its business in a responsible manner, he said.

CapitaLand Ltd is one of Asia's largest diversified real estate groups.

Headquartered and listed in Singapore, it owns and manages a global portfolio worth about 133.3 billion Singapore dollar as on September 30, 2020.

CapitaLand's portfolio spans across diversified real estate classes, which includes commercial, retail; business park, industrial and logistics; integrated development, urban development; as well as lodging and residential.

With a presence across more than 220 cities in over 30 countries, the group focuses on Singapore and China as its core markets. It continues to expand in markets such as India, Vietnam, Australia, Europe and the US.

CapitaLand manages six listed real estate investment trusts (REITs) and business trusts as well as over 20 private funds.

In India, CapitaLand has a strong presence with a portfolio of over 20 business and IT parks, industrial, lodging and logistics properties across seven cities – Bengaluru, Chennai, Goa, Gurugram, Hyderabad, Mumbai and Pune. PTI MJH BAL