The Commercial Bank of Ceylon announced customised Green Home Loans for buyers of apartments at Capitol TwinPeaks, a high-rise mixed development with luxury residential apartments in Colombo that has already been certified Gold by the Green Building Council of Sri Lanka (GBCSL).
A Memorandum of Understanding signed by the Bank and the developer Capitol Towers Ltd. commits the two organisations to provide buyers a series of significant special benefits that will facilitate the purchase of apartments and the enhancement of their eco-friendly potential. Capitol Towers Ltd. has undertaken to offer concessions of up to 40% on the prices of apartments under this arrangement. The Commercial Bank of Ceylon has agreed to offer loans at 1% lower than the published Platinum rate, 50% off document charges and discounts of up to 10% from five leading solar power products suppliers registered with the Bank’s Green Home Loans programme.
These attractive special benefits will be available till January 31, 2024. Commercial Bank’s Green Home Loans of up to Rs 50 million are available for the purchase of homes that have been granted Green Building Certificates by the Green Building Council of Sri Lanka, or for the construction of houses that will be so certified. Loans of up to Rs 5 million are available for the purchase of solar power systems, solar net metering systems or for any other green initiative such as waste or rain water management or composting, that leads to Green certification.
The loans are repayable in up to 15 years and can also be topped up periodically for maintenance or upgrades that improve eco-friendliness. The Commercial Bank recently entered into a landmark cooperation agreement with the Green Building Council, laying the framework for the two institutions to work together to promote eco-friendly building construction in Sri Lanka.
The Bank and the Council have agreed to cooperate in activities related to the introduction of sustainable financing products by the Bank to facilitate the transition to carbon-neutral and environmentally-sustainable economic developments under this agreement.
Capitol TwinPeaks is located in the heart of Colombo’s central business district and comprises 50-storey twin skyscrapers offering 475 luxury apartments.