GuocoLand has recently secured a $367.1 million green club facility from DBS Bank to develop its Faber Walk site. This prime residential land parcel, located in the Faber Walk landed private residential enclave, was awarded to GuocoLand and its joint venture partners, TID and Hong Leong Holdings, through a Government Land Sale tender last November. The partners emerged as the top bidder, submitting a bid of $349.86 million, or $900 psf per plot ratio, for the 277,659 sq ft site.
The upcoming development at Faber Walk will feature 399 residential units spread across nine low-rise blocks. Its prime location next to the Pandan River and the forthcoming Old Jurong Line Nature Trail makes it a highly sought-after address. The green facility secured for this 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.
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The Faber Walk development is set to achieve the BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion. Dora Chng, residential director of GuocoLand, expresses excitement about leveraging the group’s end-to-end value chain capabilities to develop sustainable and biophilic designs for the residents, similar to the successful launches of Lentor Modern and Lentor Mansion in the Lentor Hills estate.
In addition to the Faber Walk project, GuocoLand’s joint development with Hong Leong Holdings at Upper Thomson Road (Parcel B) is also highly anticipated. The 941-unit development, targeted for launch in the second half of this year, is expected to be another successful project for the group. With its commitment to sustainability and innovative design, GuocoLand continues to solidify its position as a leading property developer in Singapore.