Guocoland Secures 3671 Mil Green Loan Faber Walk Development
GuocoLand secures $367.1 million green club financing from DBS Bank for Faber Walk projectThe Faber Walk project, located in the exclusive landed residential area of Faber Walk, has been awarded a $367.1 million green club financing by DBS Bank. The site was acquired through a highly competitive Government Land Sale tender last November by a joint venture between GuocoLand, TID and Hong Leong Holdings. The consortium placed the highest bid of $349.86 million, equivalent to $900 per square foot per plot ratio for the 277,659 square feet land parcel.The upcoming development will consist of nine low-rise blocks with a total of 399 residential units. The luxurious residential enclave will be situated next to the Pandan River and the upcoming Old Jurong Line Nature Trail. This prime waterfront location within the Faber Walk landed private residential estate offers residents a serene and peaceful living environment.AdvertisementThe green club facility secured by GuocoLand for the Faber Walk project is an addition to the company’s sustainable initiatives for its developments, which includes Guoco Tower on Wallich Street, Guoco Midtown on Beach Road, Midtown Modern on Tan Quee Lan Street and Lentor Mansion at Lentor Gardens.The Faber Walk development is expected to achieve the prestigious BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion. Dora Chng, residential director at GuocoLand, shares: “We are excited to utilize the group’s extensive value chain capabilities to create sustainable developments with biophilic designs for our residents, much like our successful projects such as Lentor Modern and Lentor Mansion in the Lentor Hills estate.”GuocoLand is also gearing up for the launch of its 941-unit development at the Upper Thomson Road (Parcel B) site, which was awarded last April. A joint venture with Hong Leong Holdings, the project is set for launch in the second half of the year.
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