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Property

Singapore and Hong Kong lure financing for green real estate

Rival hubs rank high among Asian cities for supporting sustainable properties

“Singapore stands out due to a comprehensive green building certification scheme and an ambitious plan to become a low-carbon built environment,” said Christine Li, head of research for the Asia-Pacific region at Knight Frank.   © Reuters

SINGAPORE -- Singapore and Hong Kong are among the top cities in Asia for green commercial properties as the rival hubs attract financing to support the development of eco-friendly urban projects.

The city-state ranked first in the U.K.-based property consultancy Knight Frank's sustainability index for the Asia-Pacific, released on Wednesday, The Chinese technology hub Shenzhen and Hong Kong were the next most highly ranked Asian cities, just below Australian and New Zealand urban centers like Sydney and Wellington. Tokyo rounded out the top 10. Knight Frank's ranking considers factors like the number of green buildings, the will of local governments to push for sustainable urbanization and also looks at the market for investable green assets.

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