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 manager (projects), says: “As the very first developer to commence Tengah’s maiden private green residential development, we strive to support and increase an eco-conscious nonpublic real estate 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 international shift to a low-carbon economy, we are improving our role as a reputable developer by installing accountable green practices across our structure procedures for a more renewable future.”

Tengah– Singapore’s first brand-new Housing Board town since Punggol more than two decades back– is envisioned as a car-lite, environment-friendly town spanning 700ha. When completely built, it will give about 42,000 brand-new homes.

Chuan Park Kingsford Development Pte Ltd & MCC Land(s) Pte Ltd

Some nature-related features of the project include “native planting strategies”, “ecological hallways” of layered landscaping and integrated environment-friendly spaces, and “sustainable smart technologies” to reduce waste.

DBS functioned as anchor lender and sole green loan adviser, contributing $484 million, with the remainder given by OCBC.

A Hong Leong Holdings-led consortium, comprising shared venture associates GuocoLandLimited and CSC Land Group, has obtained a $692 million green financing from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to subsidize a “nature-aligned” urban development project in Tengah.

Chew Chong Lim, group head of real estate and shipping, aviation, logistics and transportation, institutional banking at DBS, says: “Climate change is speeding up, and adjusting how we live, work and play. In this progressing landscape, including nature into urban property development is of growing importance to create more sustainable and resilient towns where people can thrive and enjoy nature.”

The loan, design according to internationally recognised Green Loan Principles, will finance the project’s green infrastructure and ecological assimilation efforts, according to a June 3 announcement.

Slated for launch in 2026, the Hong Leong Holdings project will be Tengah’s very first exclusive mixed-use non commercial development. Situated in Tengah Garden Avenue, it aims to develop a vibrant residential development consisting of around 860 homes along with integrated retail facilities.