Hong Leong-led consortium secures $692 mil green loan from DBS, OCBC for Tengah’s first private mixed-use development
Schedule for kick off in 2026, the Hong Leong Holdings project will be Tengah’s very first private mixed-use residential project. Found in Tengah Garden Avenue, it aims to develop a vibrant residential property development consisting of approximately 860 homes together with blended retail services.
DBS acted as support loan provider and main green loan adviser, contributing $484 million, with the excess provided by OCBC.
A Hong Leong Holdings-led consortium, consisting of shared project partners GuocoLandLimited and CSC Land Group, has gotten a $692 million green loan from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to fund a “nature-aligned” urban property development project in Tengah.
Tengah– Singapore’s first brand-new Housing Board town since Punggol more than twenty years earlier– is envisioned as a car-lite, eco-friendly town reaching 700ha. When completely built, it will present about 42,000 brand-new homes.
Some nature-related features of the project consist of “native planting strategies”, “ecological hallways” of layered landscaping and incorporated green spaces, and “sustainable smart technologies” to reduce waste.
The loan, structured based on internationally recognized Green Loan Principles, are going to fund the project’s green infrastructure and ecological assimilation efforts, according to a June 3 announcement.
Chew Chong Lim, group head of real property and shipping, aviation, logistics and transportation, institutional business banking at DBS, says: “Climate transformation is increasing, and modifying how we live, work and play. In this evolving landscape, integrating nature into city property development is of growing importance to construct more sustainable and resilient townships where people can prosper and enjoy nature.”
Loke Kee Yeu, Hong Leong Holdings’ general administrator (projects), says: “As the first developer to commence Tengah’s maiden private green housing development, we aim to support and increase an eco-conscious nonpublic real estate community whilst partnering with like-minded investors and sustainable financiers such as DBS and OCBC to bring economic savings and benefit residents in this new smart town area. With the international shift to a low-carbon economy, we are strengthening our role as a reliable property developer by embedding smart green practices across our building procedures for a more sustainable future.”
