A consortium led by Hong Leong Holdings Limited, including GuocoLand Limited and CSC Land Group, has secured a $692m green loan to fund a pioneering urban development in Tengah, Singapore’s first “forest” town. The loan, anchored by DBS with $484mand supported by OCBC, will finance the project’s green infrastructure and ecological initiatives, aligning with international Green Loan Principles.
The development marks Tengah’s first private mixed-use project, set to launch in 2026. It will feature approximately 860 homes and integrated retail amenities, designed to enhance biodiversity and reduce environmental impact. Located in Tengah Garden Avenue, the project aims to create a vibrant, eco-conscious community.
Key features include biodiversity-enhancing designs, ecological integration with Tengah’s future forest corridor, and sustainable smart technologies. These elements aim to mitigate the urban heat island effect and promote ecological networks.
Loke Kee Yeu, General Manager of Hong Leong Holdings, emphasised the project’s role in fostering an eco-conscious community, stating, “We aim to anchor and grow an eco-conscious private housing community whilst partnering with like-minded investors and sustainable financiers.”
Chew Chong Lim, Group Head of Real Estate and Shipping, Aviation, Logistics and Transportation at DBS, highlighted the importance of integrating nature into urban development, noting, “DBS is pleased to support Hong Leong Holdings by providing financing and green loan advisory, to bring this milestone project to life.”
This development aligns with Singapore’s Green Plan ambitions, demonstrating a commitment to sustainable urban living and private-sector partnerships in achieving national climate goals.
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