Hong Leong-led consortium secures $692 mil green loan from DBS, OCBC for Tengah’s first private mixed-use development
Loke Kee Yeu, Hong Leong Holdings’ general administrator (projects), says: “As the first developer to embark on Tengah’s maiden private green non commercial development, we intend to support and increase an eco-conscious private housing neighborhood while partnering with like-minded investors and sustainable financiers such as DBS and OCBC to bring economic savings and benefit homeowners in this new smart town area. With the international shift to a low-carbon economy, we are strengthening our role as a reliable property developer by inserting accountable green practices across our building procedures for a more renewable future.”
DBS acted as anchor creditor and sole green loan adviser, providing $484 million, with the remainder given by OCBC.
Some nature-related functions of the project consist of “native planting strategies”, “eco-friendly corridors” of split landscaping and incorporated green spaces, and “sustainable smart technologies” to reduce waste.
Chew Chong Lim, group head of real property and shipping, aviation, logistics and transportation, institutional business banking at DBS, says: “Climate change is accelerating, and altering how we live, work and play. In this developing landscape, integrating nature into city development is of growing value to build more sustainable and resilient townships where people can thrive and delight in nature.”
Schedule for release in 2026, the Hong Leong Holdings project will be Tengah’s first private mixed-use residential development. Found in Tengah Garden Avenue, it intends to produce a vibrant residential development consisting of roughly 860 homes along with integrated retail services.
A Hong Leong Holdings-led consortium, consisting of joint project associates GuocoLandLimited and CSC Land Group, has actually secured a $692 million green financing from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to finance a “nature-aligned” urban property development project in Tengah.
The loan, form according to globally recognized Green Loan Principles, will fund the project’s green infrastructure and ecological assimilation efforts, according to a June 3 announcement.
Tengah– Singapore’s first brand-new Housing Board town since Punggol more than twenty years ago– is visualized as a car-lite, environmentally friendly community covering 700ha. When completely developed, it will give about 42,000 brand-new homes.
