GuocoLand has recently announced that it has obtained a green club facility worth $367.1 million from DBS Bank for the development of its Faber Walk site. This residential land parcel was secured through a successful Government Land Sale tender in November last year by GuocoLand and its joint venture partners, TID and Hong Leong Holdings. The top bid of $349.86 million, or $900 psf per plot ratio, was submitted by the partners for the 277,659 sq ft site.
The upcoming development on Faber Walk will consist of 399 residential units spread across nine low-rise blocks. It is situated within the sought-after Faber Walk landed private residential enclave, adjacent to the Faber Hills estate. This waterfront development boasts a prime location next to the Pandan River and the upcoming Old Jurong Line Nature Trail.
The green facility obtained for the Faber Walk project is in line with GuocoLand’s commitment to sustainability and green initiatives. This includes their previous 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.
Furthermore, the Faber Walk development is expected to achieve the prestigious BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion. According to Dora Chng, residential director of GuocoLand, “We look forward to utilizing the group’s comprehensive value chain capabilities to create sustainable developments with biophilic designs for our residents, just like our successful launches including Lentor Modern and Lentor Mansion in the Lentor Hills estate.”
GuocoLand’s next project is a 941-unit development at its Upper Thomson Road (Parcel B) site, which was awarded in April last year. This joint venture with Hong Leong Holdings is set for launch in the latter half of the year.
In conclusion, the secured green club facility from DBS Bank for the Faber Walk site highlights GuocoLand’s dedication towards creating sustainable and environmentally-friendly developments for its residents. With its track record of successful launches, the upcoming project at Upper Thomson Road is highly anticipated by both investors and homebuyers.