Hong Leong-led consortium secures $692 mil green loan from DBS, OCBC for Tengah’s first private mixed-use development
Tengah– Singapore’s very first new Housing Board town ever since Punggol more than twenty years back– is visualized as a car-lite, environmentally friendly community covering 700ha. When completely built, it will present about 42,000 new homes.
The loan, design based on globally recognized Green Loan Principles, are going to fund the project’s green infrastructure and ecological integration efforts, according to a June 3 statement.
DBS served as support lender and main green loan consultant, contributing $484 million, with the excess given by OCBC.
Loke Kee Yeu, Hong Leong Holdings’ general manager (projects), says: “As the initial developer to commence Tengah’s maiden private green housing development, we strive to anchor and increase an eco-conscious nonpublic real estate neighborhood while partnering with like-minded investors and sustainable financiers such as DBS and OCBC to carry economic savings and benefit residents in this new smart town area. With the global switch to a low-carbon economy, we are strengthening our role as a reputable developer by installing responsible green practices across our establishment procedures for a more lasting future.”
A Hong Leong Holdings-led consortium, comprising joint project associates GuocoLandLimited and CSC Land Group, has actually obtained a $692 million green funding from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to fund a “nature-aligned” urban property development project in Tengah.
Some nature-related features of the project include “native planting strategies”, “environmental corridors” of layered landscaping and integrated eco-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 transformation is speeding up, and adjusting how we live, work and play. In this evolving landscape, incorporating nature into city property development is of growing importance to construct more sustainable and resilient areas where people can thrive and enjoy nature.”
Schedule for kick off in 2026, the Hong Leong Holdings venture will be Tengah’s primary private mixed-use housing project. Found in Tengah Garden Avenue, it aims to develop a vibrant residential property development making up roughly 860 homes along with blended retail amenities.
