Guocoland Secures 847 Mil Green Facility Upper Thomson Road Project
GuocoLand has recently announced its success in obtaining a green club facility worth $847.1 million for the financing of its upcoming project at Upper Thomson Road. This follows the developer’s joint venture with Hong Leong Holdings, which won a 99-year leasehold site of 344,700 square feet through a successful bid for $779.6 million in the Government Land Sale tender in April.
The highly-anticipated development of Parktown Residence in the Outside Central Region is set to address the pressing need for affordable housing, providing a welcome solution for those seeking private homes. Its unique design, which seamlessly integrates living spaces, is sure to catch the eye of potential homeowners and HDB upgraders alike. Not only that, but the project will also boast excellent connectivity to the upcoming Tampines North MRT station on the Cross Island Line (CRL). This means that residents of Parktown Residence Tampines Avenue 11 will have convenient access to a plethora of amenities and services. To learn more about this exciting development, check out Parktown Residence Tampines Avenue 11.
According to GuocoLand’s press release on August 20, the development at the site is set to be launched in 2025 and will consist of five 25-storey towers, accommodating a total of 941 residences. The project will also include the conservation of a part of the former Seletar Institute, originally built as Upper Thomson Secondary School.
Additionally, GuocoLand has revealed that their upcoming development will be the first private residential project to adopt a “biodiversity-sensitive approach”. As such, it is expected to be awarded the Building and Construction Authority’s Green Mark Platinum (Super Low Energy) award, as well as the Maintainability badge. The Maintainability badge is awarded to buildings that utilize smart facilities management technologies to ensure efficient maintenance regimes, under the Green Mark scheme.
Dora Chng, the Residential Director of GuocoLand, shares her enthusiasm for bringing GuocoLand’s signature living concepts to the Springleaf new town with this project. She states, “Our upcoming development at Upper Thomson is an extension of our placemaking strategy to uplift neighborhoods. We are excited to bring GuocoLand’s signature living concepts to the Springleaf new town that will promote wellness and biodiversity.”
The green facility for this development has been arranged by top banks such as UOB, OCBC, and DBS. GuocoLand has already secured green financing of over $3.7 billion, which includes a $974 million facility for its Guoco Tower integrated development and a $498.6 million facility for its Lentor Mansion development.