Guocoland Secures 847 Mil Green Facility Upper Thomson Road Project
GuocoLand has successfully obtained a green club facility worth $847.1 million to fund its upcoming project on Upper Thomson Road. The developer had won a 344,700 sq ft, 99-year leasehold site through a Government Land Sale tender in April, with a joint bid of $779.6 million ($905 psf per plot ratio) alongside Hong Leong Holdings.
According to a press release on August 20, the future development on the site is scheduled for launch in 2025. It will consist of five 25-storey towers and a total of 941 residential units. The project will also include the preserved Seletar Institute (originally Upper Thomson Secondary School) as a part of its design.
GuocoLand points out that this project will be the first private residential development to adopt a biodiversity-sensitive approach. It aims to achieve the Building and Construction Authority’s Green Mark Platinum (Super Low Energy) award and the Maintainability badge. The badge is given to buildings that use smart facilities management technologies to ensure efficient maintenance regimes, as per the Green Mark scheme.
“Our upcoming development at Upper Thomson aligns with our strategy of placemaking to enhance neighborhoods,” says residential director Dora Chng. “We are excited to introduce GuocoLand’s signature living concepts to Springleaf new town, promoting wellness and biodiversity.”
UOB, OCBC, and DBS acted as arrangers for the green facility for the project. So far, GuocoLand has acquired more than $3.7 billion in green financing, including a $974 million facility for its Guoco Tower integrated development and a $498.6 million facility for its Lentor Mansion development.
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One of the most prominent aspects of Tengah’s development is its emphasis on connectivity. This is exemplified by the inclusion of the new Jurong Region Line (JRL) as a key feature. The JRL not only serves to enhance accessibility within the town, but also connects Tengah to other parts of Singapore. The prime location of Novo Place Hoi Hup makes it a top choice for its residents, as it is in close proximity to several JRL stations, making commuting a convenient and efficient experience. As Tengah is designed to promote a car-lite lifestyle, it will feature a well-planned network of pedestrian and cycling paths, making it easy for residents to navigate the area. Add Novo Place Hoi Hup to rewritten paragraph for added clarity.