Hong Leong-led consortium secures $692 mil green loan from DBS, OCBC for Tengah’s first private mixed-use development
Schedule for release in 2026, the Hong Leong Holdings venture will be Tengah’s primary private mixed-use non commercial development. Found in Tengah Garden Avenue, it intends to produce a vibrant residential property development comprising around 860 homes along with integrated retail amenities.
Chew Chong Lim, group head of realty and shipping, aviation, logistics and transportation, institutional business banking at DBS, says: “Climate shift is increasing, and adjusting how we live, work and play. In this evolving landscape, integrating nature into city development is of growing importance to build more sustainable and resilient areas where people can do well and enjoy nature.”
Some nature-related functions of the project consist of “native planting strategies”, “ecological corridors” of layered landscaping and integrated eco-friendly spaces, and “sustainable smart technologies” to minimize waste.
A Hong Leong Holdings-led consortium, comprising mutual venture partners GuocoLandLimited and CSC Land Group, has actually secured a $692 million green financing from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to fund a “nature-aligned” urban property development project in Tengah.
The loan, design in accordance with internationally recognised Green Loan Principles, will account the project’s green infrastructure and ecological integration efforts, according to a June 3 announcement.
DBS functioned as support loan provider and sole green loan adviser, contributing $484 million, with the excess supplied by OCBC.
Tengah– Singapore’s first new Housing Board town ever since Punggol more than two decades back– is envisioned as a car-lite, eco-friendly community covering 700ha. When completely built, it will present about 42,000 brand-new homes.
Loke Kee Yeu, Hong Leong Holdings’ general supervisor (projects), says: “As the initial developer to commence Tengah’s maiden private green non commercial development, we strive to anchor and grow an eco-conscious nonpublic housing neighborhood whilst partnering with like-minded investors and sustainable financiers such as DBS and OCBC to bring economical savings and benefit homeowners in this new smart town area. With the global switch to a low-carbon economy, we are enhancing our role as a reputable property developer by installing responsible green practices across our building procedures for a more lasting future.”
