GuocoLand has recently acquired a green loan of $367.1 million from DBS Bank to develop its Faber Walk site. The land parcel, which was awarded through a Government Land Sale tender last November, will be jointly developed by GuocoLand, TID and Hong Leong Holdings.
The partners had submitted the top bid of $349.86 million for the 277,659 sq ft site, which translates to $900 psf per plot ratio. The upcoming development will consist of nine low-rise blocks and will offer 399 residential units. Located within the Faber Walk landed private residential enclave and adjacent to the Faber Hills estate, the development will boast a waterfront setting with views of the Pandan River and the upcoming Old Jurong Line Nature Trail.
GuocoLand’s green facility for the Faber Walk project is in line with its sustainable initiatives, which can be seen 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.
According to Dora Chng, residential director of GuocoLand, the company will leverage its end-to-end value chain capabilities to create sustainable developments with biophilic designs for its residents. This is similar to their previous successful launches like Lentor Modern and Lentor Mansion in the Lentor Hills estate.
The Faber Walk development is expected to achieve the BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion. GuocoLand’s upcoming project is a 941-unit development at its Upper Thomson Road (Parcel B) site, which was awarded last April. Jointly developed with Hong Leong Holdings, the project is scheduled for launch in the second half of the year.