OCBC Bank has facilitated Myanmar's first green loan of US$44 million to Shwe Taung Group for the sustainable development of Junction City Shopping Centre in Yangon.
Information on the Target
Shwe Taung Group has made a significant advancement in Myanmar's financial landscape by securing the first green loan in the country, valued at US$44 million, from OCBC Bank and UOB. This loan will be allocated to its subsidiary, City Square Commercial Company Limited, for the development of Junction City Shopping Centre, an integrated retail and commercial project located in the heart of downtown Yangon.
Junction City is not only a mixed-use complex that includes an office tower and a hotel but also an exemplar of sustainable development in Myanmar. This initiative highlights the growing recognition and proactive approach towards climate change, essential for sustainable growth in emerging markets.
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Industry Overview in Myanmar
The real estate and construction industry in Myanmar is witnessing a transitional phase, driven by increasing urbanization and foreign investments. As the country
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OCBC Bank
invested in
Shwe Taung Group
in 2019
in a Other deal
Disclosed details
Transaction Size: $44M