Hong Leong-led consortium secures $692 mil green loan from DBS, OCBC for Tengah’s first private mixed-use development
Chew Chong Lim, group head of real estate and shipping, aviation, logistics and transportation, institutional business banking at DBS, says: “Climate shift is accelerating, and altering how we live, work and play. In this progressing landscape, integrating nature into city development is of growing importance to build more sustainable and resilient towns where people can do well and delight in nature.”
Slated for launch in 2026, the Hong Leong Holdings project will be Tengah’s primary exclusive mixed-use non commercial development. Located in Tengah Garden Avenue, it intends to create a vibrant residential property development consisting of roughly 860 homes along with integrated retail amenities.
DBS functioned as support lender and main green loan adviser, contributing $484 million, with the balance given by OCBC.
A Hong Leong Holdings-led consortium, comprising shared venture associates GuocoLandLimited and CSC Land Group, has secured a $692 million green financing 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 consist of “native planting strategies”, “ecological corridors” of layered landscaping and incorporated green spaces, and “sustainable smart technologies” to minimize waste.
Tengah– Singapore’s first brand-new Housing Board town since Punggol more than two decades back– is visualized as a car-lite, environmentally friendly town spanning 700ha. When fully developed, it will present about 42,000 new homes.
Loke Kee Yeu, Hong Leong Holdings’ overall manager (projects), says: “As the very first developer to commence Tengah’s first private green housing development, we strive to anchor and increase an eco-conscious nonpublic housing neighborhood whilst partnering with similar investors and sustainable financiers such as DBS and OCBC to bring economical savings and benefit homeowners in this new smart town area. With the global switch to a low-carbon economy, we are reinforcing our role as a reliable property developer by inserting responsible green practices across our building processes for a more renewable future.”
The loan, form based on globally recognised Green Loan Principles, will fund the project’s green infrastructure and ecological integration efforts, according to a June 3 statement.
