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 supervisor (projects), says: “As the initial developer to start Tengah’s maiden private green residential development, we aim to support and increase an eco-conscious personal real estate neighborhood while 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 global shift to a low-carbon economy, we are improving our role as a reliable developer by embedding accountable green practices across our structure procedures for a more sustainable future.”
The loan, structured based on globally recognized Green Loan Principles, are going to account the project’s green infrastructure and ecological assimilation efforts, according to a June 3 statement.
Chew Chong Lim, group head of realty and shipping, aviation, logistics and transportation, institutional banking at DBS, says: “Climate change is speeding up, and changing how we live, work and play. In this evolving landscape, integrating nature into metropolitan property development is of growing importance to construct more sustainable and resilient towns where people can thrive and appreciate nature.”
Slated for kick off in 2026, the Hong Leong Holdings project will be Tengah’s very first private mixed-use housing project. Situated in Tengah Garden Avenue, it intends to develop a vibrant residential development comprising approximately 860 homes along with integrated retail services.
Tengah– Singapore’s very first brand-new Housing Board town ever since Punggol more than two decades ago– is envisioned as a car-lite, environment-friendly town reaching 700ha. When fully established, it will present about 42,000 new homes.
Some nature-related features of the project include “native planting strategies”, “environmental passages” of layered landscaping and integrated green spaces, and “sustainable smart technologies” to reduce waste.
A Hong Leong Holdings-led consortium, comprising shared project associates GuocoLandLimited and CSC Land Group, has actually secured 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.
DBS acted as anchor creditor and main green loan adviser, providing $484 million, with the rest given by OCBC.
