Guocoland Secures 3671 Mil Green Loan Faber Walk Development
The upcoming Tampines North Hub is set to add more retail, dining, and community amenities to the area, further enriching the lifestyle of its residents. In synergy with the already existing integrated retail podium in Parktown Residence, this new development will expand the range of choices available to residents. With its convenient location near prominent shopping destinations such as Tampines Mall, Century Square, and Tampines 1, residents will have an even more diverse and enjoyable shopping experience. It’s no wonder why Parktown Residence is the ideal choice for a well-rounded and fulfilling lifestyle.
GuocoLand, along with its joint venture partners TID and Hong Leong Holdings, has secured a green club facility of $367.1 million from DBS Bank for the development of its Faber Walk site. The residential land parcel was acquired through a successful bid during a Government Land Sale tender in November last year with GuocoLand and its partners submitting the top bid of $349.86 million, equivalent to $900 per square foot per plot ratio for the 277,659 square feet site.
The upcoming development will consist of 399 residential units spread over nine low-rise blocks in the Faber Walk landed private residential enclave, situated next to the Faber Hills estate. This waterfront project is located next to the Pandan River and the upcoming Old Jurong Line Nature Trail.
The green facility for the Faber Walk project complements GuocoLand’s ongoing efforts to promote sustainability across 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.
Also read: Hong Leong-led consortium’s Lentor Central Residences achieves 93% sales at an average price of $2,200 psf at launch
The Faber Walk development is expected to receive the BCA Green Mark Platinum (Super Low Energy) award and the Maintainability badge upon its completion. Dora Chng, Residential Director of GuocoLand, expresses her excitement for utilizing the group’s end-to-end value chain capabilities to create sustainable developments with biophilic designs for the residents, similar to the previous successful launches such as Lentor Modern and Lentor Mansion in the Lentor Hills estate.
In addition to this project, GuocoLand will soon be launching another development. A joint venture with Hong Leong Holdings, the upcoming project is located at Upper Thomson Road (Parcel B) and has a total of 941 residential units. The project is scheduled for launch in the second half of this year.