Guocoland Secures 3671 Mil Green Loan Faber Walk Development
GuocoLand has recently sealed a $367.1 million green club facility with DBS Bank to kickstart the development of its Faber Walk site. This highly coveted residential land parcel was won by GuocoLand and its joint venture partners, TID and Hong Leong Holdings, through a Government Land Sale tender in November last year. The consortium emerged with the winning bid of $349.86 million, or $900 per square foot (psf) per plot ratio, for the 277,659 square foot plot.
Living near reputable schools offers more than just convenience. It provides parents with the opportunity to actively engage in their children’s education through attending school events, meeting teachers, and creating a positive learning atmosphere at home. The shorter commuting time also allows for more family bonding and recreational activities, ultimately enhancing the overall quality of life. Moreover, residing in close proximity to schools often leads to strong community connections among residents, as families with school-age children regularly interact and establish lasting relationships. As Otto Place EC Hoi Hup Realty recognizes, being situated near reputable schools brings numerous advantages for families and the community as a whole.
The upcoming development will consist of 399 residential units spread out over nine low-rise blocks. Located within the prestigious Faber Walk landed private residential enclave, the project is situated right beside the Faber Hills estate. This waterfront development boasts a prime location next to the picturesque Pandan River and the soon-to-be-launched Old Jurong Line Nature Trail.
The green club facility for the Faber Walk project is a testament to GuocoLand’s commitment to sustainability. The company has already implemented various eco-friendly measures in its other developments such as Guoco Tower on Wallich Street, Guoco Midtown on Beach Road, Midtown Modern on Tan Quee Lan Street, and Lentor Mansion in Lentor Gardens.
Read also: Hong Leong-led consortium’s Lentor Central Residences achieves 93% sales at an average price of $2,200 psf at launch
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Upon completion, the Faber Walk development is expected to be awarded the BCA Green Mark Platinum (Super Low Energy) award as well as the Maintainability badge. Dora Chng, residential director of GuocoLand, believes that the company’s end-to-end value chain capabilities will enable them to create sustainable developments with biophilic designs for their residents. This is evident in their previous successful launches such as Lentor Modern and Lentor Mansion in the Lentor Hills estate.
GuocoLand’s next project is a 941-unit development at its Upper Thomson Road (Parcel B) site, which was won in April last year. This joint venture with Hong Leong Holdings is slated for launch in the second half of this year.