, Singapore
109 views

Worldwide Hotels Group secures $405m green loan

The loan will help finance a new hotel and commercial development.

Worldwide Hotels Group has acquired its first green loan amounting to $405m from Maybank Singapore.

The loan will help develop the group’s new hotel and commercial development, 8 Club Street and is considered the biggest bilateral green financing for a hospitality asset in Singapore to date. It is also the Singapore hotel chain’s first foray into green financing with a strong commitment to adopt ESG standards in the future.

The bilateral loan covered land and construction costs for the 19-storey mixed-use building. When completed in 2022, it will be a modern 4-star hotel with 900 rooms and commercial spaces (restaurants and shops) in the vibrant CBD and historical Chinatown precincts. It is accessible via a pedestrian link connected to Chinatown and Telok Ayer MRT stations as well as China Square.

“We are pleased to finance our landmark hotel with Maybank via a green loan as we keep to our green building target of BCA Green Mark GoldPlus for 8 Club Street. With this, we will embark on a full-fledged sustainability journey and are currently putting a framework in place this year. Our vision is to eventually enhance and upgrade our existing portfolio to meet our formalised green targets,” said managing director of Worldwide Hotels Group Carolyn Choo.

Worldwide Hotels is a tourist class hotel group, providing affordable accommodation with an undiscounted experience for travellers visiting Singapore. Worldwide Hotels currently owns and manages six hotel brands in Singapore, namely Hotel Boss, V Hotel, Hotel Mi, Value Hotel, Venue Hotel and Hotel 81.
 

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Get Singapore Business Review in your inbox
Chua spent 18 years with UBS Wealth Management prior to his new role.
Private-sector economists polled by the Monetary Authority of Singapore expect higher growth, faster inflation in 2021. Economists and analysts from the private sector expect the Singapore economy to grow by 6.8% for the full year of 2021, according to the latest Monetary Authority of Singapore (MAS) survey of professional forecasters. The forecast for the June survey is higher than the 5.8% forecast from the March survey. The twenty-seven respondents expect manufacturing to grow by 8.3%, finance & insurance by 6.0%, construction by 19.3%, wholesale & retail trade by 4.4% and accommodation & food services by 6.5%. Private consumption is expected to grow by 5.2%, lower than the 7.9% forecast from the past survey. Non-oil domestic exports is expected to grow by 7.5% for the full year of 2021. CPI-all items inflation and MAS Core inflation are expected to come in at 1.4% and 0.8% respectively for the full year of 2021. For the second quarter, the economists expect CPI inflation to come in at 1.9% and core inflation to come in at 0.7%.  
The leading F&B establishment operator expands its retail line of condiments and flavourings.
This deepens SGX’s partnership with Nikkei Inc.
These three stocks saw significant growth in trading turnover year-to-date.
The project with a 280-bed capacity is expected to operate by 2022.
Singapore Airport Terminal Services saw the sharpest decline during Monday's trading, with a 1.21% drop.
And the G-7 states demand a probe on the origins of the COVID-19 pandemic.
Approximately 35% of MSEs in the F&B and retail sectors saw their earnings drop by more than half during the Phase 2 Heightened Alert period, according to a DBS survey.
Enterprise Singapore extends the programme that supports food and beverage businesses in providing food delivery services.
The Baht 40b debentures were 1.52 times oversubscribed.
The fund was announced at the inaugural CapitaLand Sustainability X Challenge.
Mapletree Logistics Trust saw the sharpest decline during Friday's trading, with a 0.99% drop.
This may be one of the last times the troubled water treatment firm could meet with securities holders before shutting down.
The company has been listed in the Catalist board of SGX since 2017.