The ESG Phenomenon - United Overseas Bank, Thailand

Editorial Staff

15 June 2021

UOB Thailand has lent Asia Capital Real Estate (ACRE) THB675 million ($21.7 million) to develop HOMA Phuket Town, a residential rental apartment complex in Phuket that is “environmentally friendly,” the bank said.

The loan was approved under the UOB Real Estate Sustainable Finance Framework. HOMA Phuket Town is a 505-unit rental housing development with features such as solar panels, energy-efficient appliances, LED lighting, advanced air quality monitoring and efficient air conditioning.

The financing is an example of the sort of “green bond” that has been a growing feature of deals around the world amid the trend for ESG investing.
said the development in Phuket will help cut greenhouse gas emissions by about 325 tonnes a year.