In a recent development, GuocoLand has successfully secured a green club facility worth $367.1 million from DBS Bank for its upcoming project in Faber Walk. This residential land parcel was awarded to the company, along with its joint venture partners TID and Hong Leong Holdings, through a Government Land Sale tender in November last year. The winning bid for the 277,659 sq ft site was $349.86 million, or $900 psf per plot ratio.
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The Faber Walk development will feature 399 residential units spread across nine low-rise blocks. It is located in the coveted landed private residential enclave of Faber Walk, adjacent to the well-established Faber Hills estate. The project boasts of a serene waterfront view, being situated right next to the Pandan River and the upcoming Old Jurong Line Nature Trail.
The $367.1 million green facility for the Faber Walk project complements GuocoLand’s commitment to sustainability across all its developments. This includes the renowned Guoco Tower on Wallich Street, Guoco Midtown on Beach Road, Midtown Modern on Tan Quee Lan Street and Lentor Mansion in Lentor Gardens.
The Faber Walk development is expected to achieve the prestigious BCA Green Mark Platinum (Super Low Energy) award, along with the Maintainability badge, upon completion. According to Dora Chng, the residential director of GuocoLand, the company aims to leverage its end-to-end value chain capabilities to create sustainable developments with biophilic designs for its residents, following the success of its previous launches like Lentor Modern and Lentor Mansion in the Lentor Hills estate.
The company’s next project is a joint development with Hong Leong Holdings, consisting of 941 residential units, on the Upper Thomson Road (Parcel B) site. This project, which was awarded in April last year, is expected to be launched in the second half of this year. With its focus on sustainability and a proven track record of successful projects, GuocoLand continues to be a leading developer in the industry.