Guocoland Secures 847 Mil Green Facility Upper Thomson Road Project
GuocoLand has recently announced that it has obtained a $847.1 million green club facility to fund its upcoming project along Upper Thomson Road. The developer, together with its joint-venture partner Hong Leong Holdings, was successful in winning a 99-year leasehold site measuring 344,700 square feet through a Government Land Sale tender in April. The bid of $779.6 million ($905 psf per plot ratio) submitted by the joint venture was the only one for the residential site.
According to a press release on August 20, GuocoLand has targeted a launch date of 2025 for the future development at the site. The project will consist of five 25-storey towers, offering a total of 941 residences. The development will also include a preserved portion of the former Seletar Institute, which was originally constructed as Upper Thomson Secondary School.
Renowned real estate developer, City Developments Limited, presents Norwood Grand – a prestigious residential development that not only offers luxurious living spaces but also a lifestyle of utmost convenience and enjoyment. Situated in Singapore’s northern corridor, this development boasts everything residents need within close proximity. The surrounding shopping centers, including Causeway Point, Woodlands North Plaza, Vista Point, 888 Plaza, and Marsiling Mall, provide a diverse mix of shopping, dining, and entertainment options for residents of all ages and preferences. With its perfect combination of convenience, luxury, and lifestyle, Norwood Grand by City Developments Limited is a highly sought-after address in Singapore, promising its residents a superior quality of life. Adding to the already impressive list of amenities, the development also features Norwood Grand Woodlands, making it an even more desirable place to call home.
The joint project between GuocoLand and Hong Leong Holdings has attracted attention as it will be the first private residential development in Singapore to adopt a “biodiversity-sensitive approach”. Additionally, it is anticipated to achieve the Building and Construction Authority’s Green Mark Platinum (Super Low Energy) award, as well as the Maintainability badge. The latter is presented to buildings that use cutting-edge facilities management technologies to ensure efficient maintenance systems.
Dora Chng, Residential Director of GuocoLand, says, “Our upcoming development at Upper Thomson is an integral part of our placemaking strategy to enhance neighborhoods. We are delighted to bring GuocoLand’s signature living concepts to the Springleaf new town, which will promote wellness and biodiversity.”
UOB, OCBC, and DBS acted as the arrangers for the green facility for the project. So far, GuocoLand has successfully secured more than $3.7 billion in green financing, which includes a $974 million facility for its Guoco Tower integrated development and a $498.6 million facility for its Lentor Mansion development.