Hong Leong-led consortium secures $692 mil green loan from DBS, OCBC for Tengah’s first private mixed-use development
A Hong Leong Holdings-led consortium, consisting of shared venture associates GuocoLandLimited and CSC Land Group, has actually gotten a $692 million green funding from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to finance a “nature-aligned” urban property development project in Tengah.
DBS served as anchor lender and main green loan consultant, providing $484 million, with the balance provided by OCBC.
Some nature-related features of the project consist of “native planting strategies”, “eco-friendly passages” of split landscaping and incorporated eco-friendly spaces, and “sustainable smart technologies” to reduce waste.
Loke Kee Yeu, Hong Leong Holdings’ overall manager (projects), says: “As the initial developer to commence Tengah’s first private green residential development, we aim to anchor and grow an eco-conscious personal real estate neighborhood while partnering with similar investors and sustainable financiers such as DBS and OCBC to carry economical savings and benefit residents in this new smart town area. With the worldwide shift to a low-carbon economy, we are reinforcing our role as a reputable developer by inserting accountable green practices across our establishment procedures for a more sustainable future.”
Slated for release in 2026, the Hong Leong Holdings project will be Tengah’s very first exclusive mixed-use housing development. Found in Tengah Garden Avenue, it aims to produce a vibrant residential development comprising approximately 860 homes along with blended retail amenities.
The loan, structured in accordance with internationally recognized Green Loan Principles, will fund the project’s green infrastructure and ecological assimilation efforts, according to a June 3 announcement.
Tengah– Singapore’s very first brand-new Housing Board town ever since Punggol more than two decades earlier– is envisioned as a car-lite, environment-friendly town covering 700ha. When fully built, it will give about 42,000 brand-new homes.
Chew Chong Lim, group head of realty and shipping, aviation, logistics and transportation, institutional business banking at DBS, says: “Climate transformation is expediting, and modifying how we live, work and play. In this evolving landscape, incorporating nature into urban property development is of growing importance to build more sustainable and resilient townships where people can thrive and enjoy nature.”
