The bank, together with Kerjaya Property, a subsidiary of Kerjaya Prospek Property Berhad, have both successfully completed their first green loan for a property developer.
This green loan will help Kerjaya Prospek Property facilitate the funding of its integrated development known as ‘Bloomsvale’
located in Old Klang Road, Kuala Lumpur. This green funding is also key to support Kerjaya Prospek Property’s transition towards its net zero journey.
By developing buildings that are ‘green’ it provides a catalyst and opportunity to save energy, water, and reduce carbon emissions, in addition to educate, create jobs, strengthen communities and improve overall health and well-being. Currently the Bloomsvale Project has achieved a Platinum rating under GreenRE’s provisional certification for the Residential component while its Commercial building component is expected to obtain a Gold rating.
“This green loan marks a significant milestone for us in our sustainability journey. It is a testament to our commitment to include more sustainable developments to our portfolio and to be more responsible in our development and construction practices. We are optimistic about embracing green initiatives and you will continue to see us launching more green
developments in the near future. We are glad to partner with HSBC Malaysia as they understood our needs and requirements and was able to structure our first green loan for us,” Datin Toh Siew Chuon, Executive Chairperson, Kerjaya Prospek Property Berhad said.
The property developer ensures the greening of its development and supply chain and to additionally enable long-term growth while reducing climate impact by executing its first green loan with HSBC, which is aligned with the Green Loan Principles (GLP), an international standard recognised in the global syndicated loan markets.
“As more Malaysians especially the younger generation advocate for green buildings and sustainable cities, we are seeing a trend where more developers and construction sector players are focusing on ESG elements in their projects and operations to future proof their business. There is an inherent need to ensure responsible and sustainable construction and development so that our environment is minimally impacted and continues to be protected; by partnering with Kerjaya Prospek Property, we are taking concrete steps to help them ensure this,” Karel Doshi, Country Head of Corporate, Commercial Banking, HSBC Malaysia said.