Aligning our financing needs with our sustainability efforts to build a greener portfolio demonstrates ART's focus on responsible growth. Our global sustainability strategy centres on improving energy efficiency through technology or engineering solutions, as well as increasing the use of renewable energy. " The deal was met with strong demand from institutional investors and was about 2.2 times oversubscribed. The bond issue was eventually upsized from S$150 million to S$200 million, and the final order book closed at S$335 million with orders from across 47 accounts. 79 per cent of the bond was allocated to institutional accounts and 21 per cent to private banking accounts. Beh Siew Kim added: "As of 31 December 2021, 33 per cent of ART's portfolio is green-certified and we target to green the rest of our portfolio by 2030." Ascott Residence Trust (ART) was recognised for its "outstanding leadership in sustainability" in the 2021 Global Real Estate Sustainability Benchmark (GRESB).