Hong Leong-led consortium secures $692 mil green loan from DBS, OCBC for Tengah’s first private mixed-use development
Tengah– Singapore’s first brand-new Housing Board town since Punggol more than two decades ago– is envisioned as a car-lite, environment-friendly community reaching 700ha. When completely built, it will give about 42,000 new homes.
A Hong Leong Holdings-led consortium, consisting of mutual project partners GuocoLandLimited and CSC Land Group, has actually gotten a $692 million green financing from DBS Bank and Oversea-Chinese Banking Corporation (OCBC) to finance a “nature-aligned” urban development project in Tengah.
Chew Chong Lim, group head of real estate and shipping, aviation, logistics and transportation, institutional banking at DBS, says: “Climate shift is increasing, and adjusting how we live, work and play. In this progressing landscape, including nature into city development is of growing value to create more sustainable and resilient townships where people can prosper and appreciate nature.”
DBS functioned as anchor creditor and only green loan adviser, providing $484 million, with the remainder supplied by OCBC.
Slated for release in 2026, the Hong Leong Holdings venture will be Tengah’s first exclusive mixed-use non commercial development. Found in Tengah Garden Avenue, it intends to produce a vibrant residential property development making up roughly 860 homes along with integrated retail services.
The loan, form in accordance with globally recognised Green Loan Principles, are going to finance the project’s green infrastructure and ecological integration efforts, according to a June 3 statement.
Some nature-related features of the project consist of “native planting strategies”, “ecological passages” of split landscaping and incorporated green spaces, and “sustainable smart technologies” to reduce waste.
Loke Kee Yeu, Hong Leong Holdings’ overall supervisor (projects), says: “As the first developer to start Tengah’s first private green non commercial development, we strive to anchor and increase an eco-conscious private housing community while 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 worldwide switch to a low-carbon economy, we are reinforcing our role as a trusted developer by inserting responsible green practices across our structure processes for a more sustainable future.”
