Boustead Projects clinches $70m green loan

The company will use the loan to refinance its Razer SEA HQ in Singapore.

Boustead Projects Limited has secured a four-year green loan worth $70m to refinance its innovation and research and development (R&D) hub in Singapore, Razer SEA HQ.

The loans will be under UOB’s Sustainable Finance Framework for Green Building Developers and Owners.

In a bourse filing,  Boustead Projects said the loan will be extended to its joint venture, Snakepit-BP LLP,  which was set up for the development of the hub.

The seven-storey property houses over 550 employees of Razer and has a gross floor area of approximately 19,300 square metres.  As of 31 March, the hub has a committed occupancy of 100%.