Singaporean law firms Dentons Rodyk and Allen & Gledhill have advised on Phoenix Kallang’s SGD588 million (USD456 million) term and revolving credit facilities from DBS Bank to finance the acquisition and development of a residential project at Kallang Close.
Real estate companies Frasers Property and Mitsubishi Estate Asia sponsored the joint venture Phoenix Kallang.
Dentons Rodyk advised DBS Bank, with senior partner and head of the firm’s finance practice Doreen Sim leading the team.
“We are very pleased to have advised the lender on its grant of banking facilities to Phoenix Kallang. These facilities are aligned with the Green Loan Principles and will be used to finance the acquisition and development of the Kallang Close Government Land Sales plot into a waterfront residential development situated in the scenic lifestyle destination of the Kallang River corridor,” Sim told Asia Business Law Journal.
Allen & Gledhill acted as transaction counsel to Phoenix Kallang, with partner Lim Wei Ting spearheading the team.
Frasers Property said the waterfront residential development at Kallang Close was expected to comprise around 470 private homes, a riverside promenade and a childcare centre.
