Singha Estate Public Company Limited (SET: S), a leading international real estate developer and investor, has secured its first-ever Green Loan approval from Krungthai Bank, totaling 1.9 billion baht. The loan will fund the development of the S-OASIS office building, designed with cutting-edge, environmentally friendly technologies. This milestone highlights Singha Estate's ongoing commitment to sustainable growth, alongside its dedication to environmental stewardship and social responsibility. The project aims to create lasting value for businesses, tenants, and the surrounding community.
The S-OASIS office building is designed as a smart building that integrates cutting-edge technology with sustainable development principles. It has earned LEED Gold certification, reinforcing Singha Estate's commitment to creating eco-friendly environments. The Green Loan supports the company's mission to achieve carbon neutrality by 2030 and reach net-zero greenhouse gas emissions by 2050.
Mr. Chairath Sivapornpan, Chief Financial Officer of Singha Estate Public Company Limited, discussed the Green Loan project, highlighting the company's dedication to sustainability: "Our business operates in balance with our vision of 'Entrusted and Value Enricher,' focusing on creating value and sustainable growth. We prioritize the well-being of society, communities, and the environment alongside our business objectives through a range of sustainability initiatives, both in Thailand and abroad, such as the Million Trees for Tomorrow (Pleuk Pa Duay Plai New) project at Singha Park Chiang Rai, where we have already planted 6,200 trees, or 20% of our target. Our hotel and office operations have adopted solar power in Thailand and the Maldives, and we signed an MOU with the Maldivian government to support the CROSSROADS Maldives conservation area under the OECMs project, covering 1.75 million square meters (17.05% of the area). In addition, our SOS project has released baby Brown-banded Bamboo Shark into the Andaman Sea, and we have established a marine education center at SAii Phi Phi Island Village Resort and CROSSROADS Maldives to raise awareness about marine ecosystems. Together with Krungthai Bank, we have also entered into a carbon credit-linked interest rate hedging agreement, which has now been extended into a Green Loan. A portion of this loan will be invested in further developing the S-OASIS building, incorporating smart, eco-friendly technologies to improve operations and reduce environmental impact. Through our Green Process Policy, we are committed to making the building even more environmentally sustainable, focusing on energy efficiency and minimizing ecological footprints."
Singha Estate's operational plan for the S-OASIS office building includes:
Singha Estate is dedicated to meticulously developing projects that create long-term value and sustainable growth, in close collaboration with stakeholders, society, the environment, and local communities. The approval of a Green Loan from Krungthai Bank for the development of the S-OASIS office building represents a significant milestone in enhancing the environmental standards of its properties. This investment prioritizes energy efficiency and greenhouse gas reduction, directly supporting Singha Estate's goals of Carbon Neutrality and Net Zero Emissions. It also aligns with the company's ESG (Environmental, Social, and Governance) investment framework, which is a core focus for Singha Estate. By constructing eco-friendly buildings, Singha Estate not only increases the value of its projects but also provides tenants with the opportunity to actively participate in environmental conservation, optimize energy and resource use, reduce emissions, and meet the growing demand for sustainable spaces.
Mr. Suratun Kongton, Chief Wholesale Banking Officer of Krungthai Bank, stated that the bank is committed to environmental, social, and governance (ESG) principles, and it is integrating the United Nations' Sustainable Development Goals (SDGs) into its operations to enhance business performance and ability to create positive environmental and social impacts. Krungthai Bank is proud to play a pivotal role in advancing sustainability by providing a Green Loan to Singha Estate for the development of the S-OASIS office building. Under the loan agreement, the bank has established sustainability-focused Key Performance Indicators (KPIs) in line with its Responsible Lending Guidelines to ensure that the funds are used to support Singha Estate in building a smart, eco-friendly building. The project aims to promote energy efficiency, reduce environmental impact, and create value for businesses, tenants, local communities, and society at large. The bank has full confidence in Singha Estate, a leading real estate developer in Thailand, and its commitment to sustainability.
This partnership reflects the shared ESG vision of both organizations to drive sustainability initiatives while reinforcing Krungthai Bank's ambition to become a carbon-neutral organization. The project aligns with Thailand's goal of achieving net zero greenhouse gas emissions and contributes to meaningful change for society, the environment, and the economy. Furthermore, it supports Krungthai Bank's vision of "Growing Together for Sustainability." With this initiative, Krungthai Bank strengthens its position as a trusted partner that champions sustainable business practices, underscoring its commitment to becoming a leader in sustainable banking and contributing to the SDG 13 goal on climate action.