Ascott Residence Trust (ART) sponsored by ASAP Member Ascott has obtained a S$50 million five-year green loan from DBS Bank Ltd, making it the first hospitality trust in Singapore to secure a green loan.

Proceeds will be used to finance ART’s maiden development project lyf one-north Singapore, a 324-unit coliving property which will be fitted with green, energy-efficient and smart building features.

Slated for completion in 4Q 2021, lyf one-north Singapore is one of ART’s 15 properties that attained green certifications in 2020, bringing its green property total to 21 – about four times higher than in 2019.

News Release - Ascott Residence Trust is the first hospitality trust in Singapore to secure green loan_finalised1