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 supervisor (projects), says: “As the very first developer to embark on Tengah’s maiden private green housing development, we intend to support and increase an eco-conscious nonpublic housing neighborhood while partnering with like-minded investors and sustainable financiers such as DBS and OCBC to carry economical savings and benefit residents in this new smart town area. With the international shift to a low-carbon economy, we are enhancing our role as a reliable property developer by inserting responsible green practices across our building procedures for a more lasting future.”
The loan, design according to globally recognised Green Loan Principles, are going to fund the project’s green infrastructure and ecological integration efforts, according to a June 3 announcement.
Some nature-related functions of the project consist of “native planting strategies”, “eco-friendly corridors” of layered landscaping and integrated environment-friendly 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 shift is speeding up, and altering how we live, work and play. In this evolving landscape, including nature into urban development is of growing value to build more sustainable and resilient townships where people can do well and appreciate nature.”
Tengah– Singapore’s first brand-new Housing Board town ever since Punggol more than twenty years back– is envisioned as a car-lite, eco-friendly town spanning 700ha. When completely developed, it will present about 42,000 brand-new homes.
A Hong Leong Holdings-led consortium, consisting of joint project partners GuocoLandLimited and CSC Land Group, has obtained a $692 million green funding from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to fund a “nature-aligned” urban development project in Tengah.
DBS functioned as support loan provider and only green loan adviser, contributing $484 million, with the remainder given by OCBC.
Schedule for launch in 2026, the Hong Leong Holdings venture will be Tengah’s primary exclusive mixed-use residential project. Found in Tengah Garden Avenue, it aims to create a vibrant residential development consisting of roughly 860 homes together with blended retail facilities.
