GuocoLand, in partnership with TID and Hong Leong Holdings, has been granted a green club facility worth $367.1 million from DBS Bank for the development of its Faber Walk site. The land, which was acquired through a Government Land Sale tender in November last year, will feature 399 residential units spread over nine low-rise blocks. The consortium had submitted the highest bid of $349.86 million, translating to $900 per square foot per plot ratio, for the 277,659 square foot parcel.
The future development will be located in the prestigious Faber Walk landed private residential area, adjacent to the Faber Hills estate. It boasts a waterfront location next to the Pandan River and is also situated near the upcoming Old Jurong Line Nature Trail.
This green facility for the Faber Walk project is in line with GuocoLand’s commitment to sustainability, which is evident 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.
Additionally, GuocoLand aims to achieve the BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge for the Faber Walk development upon completion. Dora Chng, residential director of GuocoLand, expresses excitement for the use of the group’s end-to-end value chain capabilities to create sustainable developments with biophilic designs for the residents. This is in line with the company’s successful launches of Lentor Modern and Lentor Mansion in the Lentor Hills estate.
Furthermore, GuocoLand has an upcoming project at Upper Thomson Road (Parcel B) with Hong Leong Holdings. The 941-unit development, targeted for launch in the second half of the year, is set to continue the company’s impressive track record of sustainable and well-designed developments.