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 brand-new Housing Board town since Punggol more than two decades ago– is envisioned as a car-lite, environmentally friendly town reaching 700ha. When completely developed, it will provide about 42,000 new homes.
Some nature-related functions of the project include “native planting strategies”, “eco-friendly corridors” of split landscaping and incorporated green spaces, and “sustainable smart technologies” to minimize waste.
Loke Kee Yeu, Hong Leong Holdings’ general administrator (projects), says: “As the first developer to commence Tengah’s maiden private green residential development, we strive to anchor and grow an eco-conscious nonpublic housing community whilst partnering with like-minded investors and sustainable financiers such as DBS and OCBC to carry economic savings and benefit homeowners in this new smart town area. With the worldwide shift to a low-carbon economy, we are improving our role as a reliable developer by embedding responsible green practices across our building procedures for a more sustainable future.”
DBS acted as anchor loan provider and sole green loan consultant, contributing $484 million, with the balance supplied by OCBC.
A Hong Leong Holdings-led consortium, consisting of joint venture partners GuocoLandLimited and CSC Land Group, has actually secured a $692 million green loan from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to subsidize a “nature-aligned” urban property development project in Tengah.
Chew Chong Lim, group head of real estate and shipping, aviation, logistics and transportation, institutional business banking at DBS, says: “Climate transformation is accelerating, and adjusting how we live, work and play. In this evolving landscape, including nature into urban property development is of growing value to build more sustainable and resilient towns where people can do well and delight in nature.”
Slated for release in 2026, the Hong Leong Holdings project will be Tengah’s first private mixed-use residential project. Situated in Tengah Garden Avenue, it intends to produce a vibrant residential development consisting of around 860 homes along with integrated retail amenities.
The loan, form based on globally recognised Green Loan Principles, will account the project’s green infrastructure and ecological assimilation efforts, according to a June 3 statement.
