A consortium led by Hong Leong Holdings Limited, together with GuocoLand Limited and CSC Land Group, has secured a $692m green loan to fund the upcoming Tengah “forest” town, which has been billed as Singapore’s first eco-friendly and car-lite green estate. The loan is anchored by DBS Bank, providing $484 million, with the remainder from OCBC Bank.

The Hong Leong Holdings-led project will be Tengah’s first private mixed-use residential development. Located on Tengah Garden Avenue, it will build an estimated 860 units and retail amenities.

Hong Leong Holdings general manager of projects Mr Loke Kee Yeu said: “With the global shift to a low-carbon economy, we are reinforcing our role as a reputable developer by embedding responsible green practices across our building processes for a more sustainable future.”

Mr Chew Chong Lim, DBS institutional banking group head of real estate and shipping, aviation, logistics and transportation, said: “Climate change is accelerating, and changing how we live, work and play. In this evolving landscape, integrating nature into urban development is of growing importance to build more sustainable and resilient townships where people can thrive and enjoy nature.”

“In this evolving landscape, integrating nature into urban development is of growing importance to build more sustainable and resilient townships where people can thrive and enjoy nature.”

Congratulations to Hong Leong Holdings and its joint-venture partners for securing this green loan!