A Hong Leong Holdings-led consortium, comprising joint venture partners GuocoLand Limited and CSC Land Group, has secured a $692 million green loan from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to support a “nature-aligned” urban development in Tengah.
The loan, structured in alignment with internationally recognised Green Loan Principles, will fund the project's green infrastructure and efforts to integrate ecological features, according to a statement released on June 3.
Key environmental elements of the project include the use of native planting strategies, ecological corridors featuring multi-layered landscaping and integrated green spaces, and the adoption of sustainable smart technologies aimed at reducing waste.
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Loke Kee Yeu, general manager (projects) at Hong Leong Holdings, states that as the first developer to launch Tengah’s inaugural private green housing development, the company aims to foster an eco-conscious private residential community. He adds that by collaborating with like-minded partners and sustainable financiers such as DBS and OCBC, the project is designed to deliver both environmental benefits and cost savings for future homeowners in this emerging smart town. With the global transition toward a low-carbon economy, he notes that the company is reinforcing its reputation as a responsible developer by adopting sustainable practices across its construction processes.
Tengah, Singapore’s first new HDB town since Punggol over 20 years ago, is being planned as a car-lite and environmentally friendly township spanning 700 hectares. Once fully developed, it is expected to offer approximately 42,000 new homes.
Scheduled for launch in 2026, the Hong Leong Holdings project will mark Tengah’s first private mixed-use residential development. Located at Tengah Garden Avenue, the site will feature around 860 residential units with integrated retail facilities to support a vibrant, self-contained community.
DBS served as the lead lender and sole green loan advisor, providing $484 million of the total funding, with the remaining portion contributed by OCBC.
Chew Chong Lim, group head of real estate and shipping, aviation, logistics and transportation at DBS, says that climate change is reshaping the way people live, work and play. In this evolving context, he highlights the importance of integrating nature into urban development to create more resilient and sustainable communities where residents can thrive and remain connected to the natural environment.