Singapore, June 3, 2025 – A consortium led by Hong Leong Holdings Limited, including joint venture partners GuocoLand Limited and CSC Land Group, has secured a SGD 692 million green loan for a nature-focused urban development project in Tengah. Tengah is Singapore’s first eco-friendly “forest” town designed to promote sustainable living. The loan adheres to internationally recognized Green Loan Principles and will support the project’s green infrastructure and ecological integration efforts. DBS played a significant role as the anchor lender and sole green loan advisor, contributing SGD 484 million, with OCBC providing the remaining funds.
Tengah is set to become Singapore’s first “forest estate,” marking a key step in the country’s urban evolution. Surrounded by a forest corridor measuring 100 meters wide and five kilometers long, Tengah is Singapore’s first new Housing Board town since Punggol over two decades ago. It aims to be a car-lite, eco-friendly town spanning 700 hectares and will offer approximately 42,000 new homes within a landscape intended to reconnect people with nature.
The Hong Leong Holdings project at Tengah Garden Avenue will be the area’s first private mixed-use residential development. Scheduled for launch in 2026, it plans to create about 860 homes with integrated retail amenities. Key features include:
– Biodiversity-enhancing design: Layered landscaping and integrated green spaces forming ecological corridors.
– Ecological integration: Measures to minimize environmental impact during development.
– Restorative landscapes: Native planting strategies for habitat restoration and biodiversity enhancement.
– Sustainable smart technologies: Use of digital tools like Building Information Modelling for improved efficiency.
Loke Kee Yeu, General Manager (projects) at Hong Leong Holdings stated: “As the first developer to embark on Tengah’s maiden private green residential development, we aim to anchor and grow an eco-conscious private housing community while partnering with like-minded investors and sustainable financiers such as DBS and OCBC.”
Chew Chong Lim from DBS remarked on the importance of integrating nature into urban developments due to climate change impacts: “DBS is pleased to support Hong Leong Holdings by providing financing and green loan advisory.”
