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’ overall administrator (projects), says: “As the very first developer to commence Tengah’s maiden private green housing development, we strive to support and grow an eco-conscious private housing community while partnering with similar investors and sustainable financiers such as DBS and OCBC to bring economic savings and benefit residents in this new smart town area. With the global shift to a low-carbon economy, we are strengthening our role as a reputable property developer by embedding responsible green practices across our establishment processes for a more sustainable future.”
Schedule for release in 2026, the Hong Leong Holdings project will be Tengah’s primary private mixed-use housing development. Found in Tengah Garden Avenue, it intends to produce a vibrant residential property development consisting of approximately 860 homes along with integrated retail services.
Chew Chong Lim, group head of realty and shipping, aviation, logistics and transportation, institutional business banking at DBS, says: “Climate shift is increasing, and modifying how we live, work and play. In this progressing landscape, including nature into urban property development is of growing importance to construct more sustainable and resilient areas where people can do well and enjoy nature.”
DBS served as support creditor and sole green loan consultant, contributing $484 million, with the rest given by OCBC.
A Hong Leong Holdings-led consortium, consisting of shared project partners 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 development project in Tengah.
Tengah– Singapore’s very first brand-new Housing Board town ever since Punggol more than two decades ago– is visualized as a car-lite, environment-friendly community spanning 700ha. When completely developed, it will provide about 42,000 new homes.
Some nature-related features of the project include “native planting strategies”, “ecological passages” of split landscaping and integrated green spaces, and “sustainable smart technologies” to reduce waste.
The loan, form in accordance with internationally recognised Green Loan Principles, are going to account the project’s green infrastructure and ecological integration efforts, according to a June 3 announcement.
