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M+S secures $1.95 bil green loan for Marina One development

By Charlene Chin

/ EdgeProp Singapore |

July 27, 2020 6:38 PM SGT

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M+S, which is 60% owned by Khazanah Nasional and 40% by Temasek Holdings, has secured a $1.95 billion green loan for integrated development Marina One.

The proceeds of the green loan, given by DBS Bank, OCBC Bank and United Overseas Bank, will be used to partially refinance the office and retail components of Marina One, which are valued at approximately $5 billion.

Marina One East and West Towers comprise 1.88 million sq ft of Grade-A office space, including two high-density floors that are cantilevered across both towers. Companies occupying the space include Facebook, PwC, Mitsubishi UFJ Financial Group, Julius Baer, Netflix, Rajah and Tann, and Prudential.

Marina One’s retail podium covers over 140,000 sq ft across four floors offering retail, lifestyle and dining options.

Marina One Residences, the residential component of Marina One, is not part of the green loan package. Marina One Residences occupies two towers. To date, over 80% of the 1,042 luxury residences there have been sold.

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