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Ascott Residence Trust is First Hospitality Trust in Singapore to Secure Green Loan

lyf one-north Singapore is Ascott Residence Trust’s maiden development project and first coliving property.

SINGAPORE—Ascott Residence Trust (ART) has obtained a S$50 million five-year green loan from DBS Bank Ltd (DBS), making ART the first hospitality trust in Singapore to secure a green loan. Proceeds from the green loan will be used to finance ART’s maiden development project and coliving property, lyf one-north Singapore. lyf one-north Singapore is one of ART’s 15 properties that attained green certifications in 2020, bringing the total number of ART’s green properties to 21. This is about four times more green-certified properties compared to 2019.

lyf one-north Singapore achieved the Green Mark GoldPLUS award by Building and Construction Authority of Singapore (BCA) in 2020. The 324-unit coliving property will be fitted with green, energy-efficient and smart building features. This includes an energy monitoring system, dual-technology motion sensors and light-emitting diode (LED) light fixtures which can achieve energy savings of over 30 percent. The energy monitoring system and motion sensors will monitor and automatically optimize the level of energy consumption depending on the number of occupants in the apartment. Each apartment will also be equipped with an energy-efficient centralized heat pump for its hot water system, and a variable refrigerant flow (VRF) air-conditioning system to reduce water and energy consumption. The property will also feature sun-shading fins as part of its unique window design to reduce façade solar heat gain.

Slated for completion in 4Q 2021, lyf one-north Singapore is the first coliving property in Singapore’s research and innovation business hub. The property will integrate greenery in its social spaces. Its lush planting within the property’s plaza spaces will allow natural shading, to create a thermally comfortable environment for outdoor activities. lyf one-north Singapore combines the best of serviced residences, hotels and coliving apartments. Offering guests a vibrant, comfortable and safe home away from home, the coliving property features open, flexibly-designed social spaces and self-contained apartments, suitable for guests on long or short stay. lyf one-north Singapore is one of the 14 lyf coliving properties by ART’s sponsor, The Ascott Limited (Ascott).

Ms. Beh Siew Kim, CEO of Ascott Residence Trust Management Limited and Ascott Business Trust Management Pte. Ltd. (the Managers of ART), said: “Sustainability is core to everything we do at ART. As the proxy hospitality trust in Asia Pacific with a global footprint, we recognize the importance for ART to play our role as a responsible corporate citizen. Being the first hospitality trust in Singapore to secure a green loan reinforces ART’s commitment to do our part for the environment and the communities we operate in. Sustainability is integrated into every stage of our properties’ lifecycle, from design to development and operations. In 2020, we have increased the number of green properties in ART’s portfolio by about four times. Being part of CapitaLand, we are aligned with CapitaLand’s 2030 Sustainability Master Plan to green all our properties globally by 2030, future proofing our assets while creating long-term value for our Stapled Securityholders.”