Hong Leong-led consortium secures S$692 million green loan from DBS, OCBC for Tengah's first private mixed-use project
[SINGAPORE] A consortium led by Hong Leong Holdings has secured a S$692 million green loan to finance the development of Tengah's first nature-centric private mixed-use residential project.
DBS , the anchor lender and sole green advisor for the deal, will contribute S$484 million to the green loan, the bank said on Tuesday (Jun 3). OCBC will provide the remaining S$208 million.
Structured in line with internationally recognised Green Loan Principles, the financing will support the consortium's investments in green infrastructure and ecological integration. The consortium includes joint venture partners GuocoLand and CSC Land Group.
Chew Chong Lim, DBS' group head of real estate and shipping, aviation, logistics and transportation, institutional banking, noted that climate change is accelerating, and changing the way residents live, work and play.
'In this evolving landscape, integrating nature into urban development is of growing importance to build more sustainable and resilient townships where people can thrive and enjoy nature,' he said.
The project is located on a 25,458.4-square-metre site at Tengah Garden Avenue. It can potentially yield around 860 homes with integrated retail amenities, and is slated for launch in 2026.
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It will feature biodiversity-friendly design, native landscaping, and smart construction technologies to enhance ecological integration, reduce environmental impact and support sustainable urban living.
Hong Leong Holdings' general manager for projects, Loke Kee Yeu, said the group aims to anchor an eco-conscious private housing community in Tengah while embedding responsible green practices in line with the shift towards a low-carbon economy.
The project aligns with national plans to develop Tengah – Singapore's first new Housing Board town since Punggol more than 20 years ago – as an eco-friendly, car-lite 'forest' town
When fully developed, Tengah is expected to offer about 42,000 homes set within a 100 metre-wide and five kilometre-long forest corridor.
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