Hong Kong, 25 September 2024 – OCBC Bank (Hong Kong) Limited ("OCBC Hong Kong") and Prosperity Real Estate Investment Trust (“Prosperity REIT”; SEHK: 808) are pleased to announce the completion of Hong Kong’s first Green And Transition Loan in the real estate industry. 

OCBC Hong Kong is the sole lender for Prosperity REIT’s Green And Transition Facility, with proceeds going towards improvements in energy efficiency and decarbonisation of existing key properties over the coming 5 years, addressing material ESG issues in the real estate industry. In partnership with client, OCBC Hong Kong, headquartered in Singapore, would meaningfully contribute to a Net-Zero ASEAN and Greater China by 2050. 

The completion of this third sustainable finance transaction is the first bilateral loan facility between OCBC Hong Kong and Prosperity REIT and follows the successful collaboration last year in a sustainability-linked swap, and also a sustainability-linked loan in 2022. OCBC Hong Kong has been a trusted partner, supporting Prosperity REIT in becoming 100% sustainably financed.

Mr. Johnny Wei, Head of Wholesale Banking of OCBC Hong Kong, said, “OCBC Hong Kong is very pleased to support Prosperity REIT’s sustainability aspirations by leveraging the Bank’s strong capabilities in sustainable finance across ASEAN and Greater China. Utilising advanced market standards such as the Singapore-Asia Taxonomy, the world’s first multi-sector transition taxonomy, we are proud to support our clients with innovative and bespoke sustainable financing solutions that accelerate the transition to a net-zero future.”

Ms. Mavis Wong, CEO and Executive Director of ESR Asset Management (Prosperity) Limited, Manager of Prosperity REIT, remarked, “Prosperity REIT is thrilled to partner with OCBC Hong Kong to further strengthen the momentum on our Sustainability Roadmap 2030 by bolstering climate resilience and minimising carbon footprint through a series of energy efficiency enhancement works. This collaboration with OCBC Hong Kong reinforces our dedication to making a positive impact on the environment and society, while driving long-term value for our stakeholders.”

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About OCBC

OCBC is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is one of the world’s most highly-rated banks, with Aa1 by Moody’s and AA- by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.

OCBC is the second largest financial services group in Southeast Asia by assets. The Group offers a broad array of commercial banking, specialist financial and wealth management services, ranging from consumer, corporate, investment, private and transaction banking to treasury, insurance, asset management and stockbroking services.

OCBC’s private banking services are provided by its wholly-owned subsidiary Bank of Singapore, which operates on a unique open-architecture product platform to source for the best-in-class products to meet its clients’ goals. Its insurance subsidiary, Great Eastern Holdings, is the oldest and most established life insurance group in Singapore and Malaysia. Its asset management subsidiary, Lion Global Investors, is one of the leading asset management companies in Southeast Asia. Its brokerage subsidiary, OCBC Securities, is one of the leading securities firms in Singapore.

The Group’s key markets are Singapore, Malaysia, Indonesia and Greater China. It has close to 420 branches and representative offices in 19 countries and regions.

For more information, please visit www.ocbc.com.hk to learn more about OCBC Hong Kong.

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 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 ESR Asset Management (Prosperity) Limited (“The REIT Manager”).The REIT Manager is a wholly-owned subsidiary of ESR Group Limited. ESR Group is Asia-Pacific’s leading New Economy real asset manager and one of the largest listed real estate investment managers globally.

For more information, please visit www.esr.com and www.prosperityreit.com

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