GuocoLand, a leading property developer, has recently announced that it has successfully secured a green club facility worth $367.1 million from DBS Bank. The facility will be used to develop its Faber Walk site, which was awarded to GuocoLand and its joint venture partners, TID and Hong Leong Holdings, through a Government Land Sale tender in November last year.
The partners were able to secure the site with a top bid of $349.86 million, equivalent to $900 per square foot per plot ratio for the 277,659 square feet land parcel. The future development is set to comprise of nine low-rise blocks and a total of 399 residential units. Located within the prestigious Faber Walk landed private residential enclave, the development boasts of a prime waterfront location next to the Pandan River and the upcoming Old Jurong Line Nature Trail.
The green club facility for the Faber Walk project is in line with GuocoLand’s commitment to sustainable development, which is evident in their other projects 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.
The Faber Walk development is expected to achieve the BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion. Dora Chng, residential director of GuocoLand, expressed her enthusiasm for the project, saying: “We look forward to leveraging the group’s end-to-end value chain capabilities to create sustainable developments with biophilic designs for our residents, similar to our previous successful launches like Lentor Modern and Lentor Mansion in the Lentor Hills estate.”
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In addition to the Faber Walk project, GuocoLand is also working on a 941-unit development at its Upper Thomson Road (Parcel B) site, which was awarded in April last year. The project, which is a joint development with Hong Leong Holdings, is expected to be launched in the second half of this year.