Hong Leong-led consortium secures $692 mil green loan from DBS, OCBC for Tengah’s first private mixed-use development
Some nature-related features of the project include “native planting strategies”, “eco-friendly passages” of layered landscaping and integrated eco-friendly spaces, and “sustainable smart technologies” to reduce waste.
Chew Chong Lim, group head of real property and shipping, aviation, logistics and transportation, institutional banking at DBS, says: “Climate transformation is speeding up, and modifying how we live, work and play. In this evolving landscape, incorporating nature into urban property development is of growing value to construct more sustainable and resilient towns where people can do well and delight in nature.”
DBS served as anchor creditor and only green loan adviser, contributing $484 million, with the rest supplied by OCBC.
Tengah– Singapore’s first brand-new Housing Board town ever since Punggol more than twenty years earlier– is envisioned as a car-lite, eco-friendly town reaching 700ha. When fully developed, it will provide about 42,000 brand-new homes.
The loan, form according to globally recognised Green Loan Principles, are going to account the project’s green infrastructure and ecological assimilation efforts, according to a June 3 statement.
A Hong Leong Holdings-led consortium, consisting of shared project associates GuocoLandLimited and CSC Land Group, has obtained a $692 million green loan from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to subsidize a “nature-aligned” urban property development project in Tengah.
Slated for launch in 2026, the Hong Leong Holdings project will be Tengah’s primary exclusive mixed-use residential project. Situated in Tengah Garden Avenue, it intends to develop a vibrant residential development comprising around 860 homes along with integrated retail facilities.
Loke Kee Yeu, Hong Leong Holdings’ general administrator (projects), says: “As the very first developer to embark on Tengah’s maiden private green non commercial development, we strive to support and grow an eco-conscious nonpublic real estate community whilst partnering with like-minded investors and sustainable financiers such as DBS and OCBC to carry economical savings and benefit homeowners in this new smart town area. With the global switch to a low-carbon economy, we are enhancing our role as a trusted property developer by embedding accountable green practices across our establishment processes for a more sustainable future.”
