King’s Road Commercial Redevelopment Project First Green Loan

New World Development (017) received the first batch of green loans for investment in the large-scale commercial reconstruction project at King’s Road in North Point. The project is expected to be completed in 2019. It is understood that the loan is for a period of 5 years with a total value of 3.6 billion yuan. According to sources, the loan involved six banks, namely ANZ, BOC Hong Kong (2388), Citibank, Hang Seng Bank (011), HSBC Bank and Sumitomo Mitsui Trust Bank Hong Kong Branch.

It is understood that the loan was first signed in March 2016. After the terms were amended, the bank required the loan to meet many conditions set out in the green financing framework, and its rate of interest addition and March 2021 as the relevant content of the deadline. It will remain unchanged.

Cheng Zhigang, Executive Vice President and General Manager of New World Development, said that the King’s Road commercial redevelopment project will set new standards for future sustainable development. With the launch of the first green loan to the project, the Group is pleased to be able to work with Hong Kong and the Mainland government. , Hand in hand to support the development of green finance.

The New World North King’s Road commercial reconstruction project is the world’s first pre-certified construction project of the WELL Building Platinum Group awarded by the US Green Building Certification Committee. The project was also awarded pre-certification for the platinum version of the newly-built Building of Hong Kong’s BEAM Plus (BEAMPlus), version 1.2, and LEED Core and Shell Group 2009 Platinum Pre-certification.