Gamuda Land will use the loan to invest in a luxury real estate project in Ho Chi Minh City.
HSBC Vietnam, in collaboration with Mizuho Bank, Sumitomo Mitsui Banking Corporation and United Overseas Bank (Vietnam) Limited, has announced to provide a five-year green club loan for Tam Luc Real Estate Corporation (Tam Luc), owned by a Malaysian property developer Gamuda Land.
With a commitment of VND3,750 billion (nearly $145 million), the loan will finance the investment and development of Eaton Park, a high-end residential project in Ho Chi Minh City.
The project, covering an area of 3.7 hectares with a development value of up to $1.1 billion, was acquired by Gamuda Land around the end of 2023.
It is part of Gamuda Land's "Fast-return project" strategy, aimed at building a portfolio of assets with high return rates within a maximum investment period of five years.
Eaton Park has received EDGE green building certification by the International Finance Corporation (IFC), which requires Eaton Park to achieve a minimum of 20 per cent savings across energy, water and embodied energy in materials.
The project also aligns with the international Green Loan Principles, reflecting Tam Luc’s commitment to incorporate sustainability into their real estate development.
“The transaction demonstrates HSBC’s ability to structure sophisticated financial solutions like a green club loan tailored to support sustainable development”, shared Tim Evans, CEO and Head of banking, HSBC Vietnam.
“By leveraging our expertise and network, we empower our clients to incorporate sustainability into their business models and showcase our commitment to support businesses in their transition journey,” he added.
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