GUOCOLAND LIMITED S$498.6 MILLION GREEN FACILITY SECURED FOR
LENTOR GARDENS SITE DEVELOPMENT
Upcoming development at Lentor Gardens site will be GuocoLand's first to achieve
BCA's Green Mark Platinum (Super Low Energy) with Maintainability Badge certification
SINGAPORE, 13 JULY 2023 - GuocoLand Limited ("GuocoLand") (国浩房地产) has secured a
S$498.6 million green club facility ("green facility") from DBS Bank Ltd. ("DBS") and Oversea- Chinese Banking Corporation Limited ("OCBC") which will go towards financing the development of the Lentor Gardens site.
The latest green facility was raised under GuocoLand's Green Finance Framework ("Framework"), which enables Guocoland and its subsidiaries ("the Group") to enter into Green Finance Transactions to fund and refinance projects that will deliver environmental and social benefits that support its sustainability objectives. It comes soon after GuocoLand's announcement on 28 June of a S$974 million green facility for the refinancing of the commercial component of Guoco Tower. With this latest green facility, GuocoLand has secured a total of more than S$2.9 billion of green financing to date.
Mr Andrew Chew, Group Chief Financial Officer, GuocoLand, said: "Our recently established Green Finance Framework has again enabled us to access green financing options for our development projects, and further affirms how sustainability continues to be an integral part of the Group's strategy and our developments."
GuocoLand's first Super Low Energy building
The upcoming development at Lentor Gardens will also mark another milestone in GuocoLand's sustainability journey, as it will be its first residential project to achieve the Green Mark Platinum (Super Low Energy) with Maintainability Badge certification by the Building and Construction Authority ("BCA"). Besides achieving higher energy efficiency, some of the key sustainable features of the development will be the inclusion of on-site renewable energy sources for the common areas, the use of sustainable materials that will reduce the amount of embodied carbon, as well as the incorporation of lush greenery and water bodies that will enhance occupants' health and well-being.
Ms Dora Chng, General Manager (Residential), GuocoLand, said, "The Lentor Gardens development marks our third project in the Lentor Hills estate after Lentor Modern and Lentor Hills Residences. Leveraging our capabilities in transforming and uplifting neighbourhoods through premium developments based on innovative concepts, we are going beyond rejuvenating estates to making sustainability a key aspect of our new developments."
For the Lentor Gardens site, GuocoLand envisages a high-end residential development with approximately 530 units inspired by modern concepts of living amidst nature and greenery. Targeted to be launched in the first half of 2024, the development will comprise a combination of 8-storey blocks and 16-storey towers with sky terraces, alongside more than 6,000 sq ft of childcare facilities for added convenience to families with young children.
The 99-year leasehold Lentor Gardens site was awarded in April 2023 to GuocoLand and its partner Intrepid Investments Pte. Ltd., a wholly-owned subsidiary of Hong Leong Holdings Limited ("Hong Leong Holdings"). The 21,866.7 sqm site is located within the Lentor Hills estate, a private condominium neighbourhood surrounded by landed estates and low- to mid-rise condominiums that boasts various features including unblocked views of the vast greenery in the vicinity, access to the Lentor mass rapid transit station (part of the Thomson-East Coast Line) via a seamless sheltered walkway, and close proximity to several established schools.
In September 2022, GuocoLand launched Lentor Modern - the first and only integrated mixed- use development in the Lentor Hills estate with 605 residential units and over 96,000 sq ft of commercial space, including a 12,000 sq ft supermarket. To-date, more than 90 per cent of the residential units have been sold.
More recently on 8 July, the 598-unitLentor Hills Residences, jointly developed by Hong Leong Holdings, GuocoLand and TID Residential Pte. Ltd. (a joint venture between Hong Leong Holdings and Mitsui Fudosan), was successfully launched and sold 50 per cent of its units over two days.
- END -
About GuocoLand Limited
GuocoLand Limited ("GuocoLand") is a public company listed on the Singapore Exchange Securities Trading Limited since 1978. The principal business activities of its subsidiaries are property development, property investment, property management and hotel operations.
GuocoLand and its subsidiaries ("the Group") have established property operations in their geographical markets of Singapore, China and Malaysia, comprising residential, commercial, retail and hospitality developments. As a premier property company, GuocoLand is focused on achieving scalability, sustainability and growth in its core markets through its property development, investment and management businesses.
The parent company of GuocoLand is Guoco Group Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited. The ultimate holding company of GuocoLand is
2 / 3
GuoLine Capital Assets Limited. Both Guoco Group Limited and GuoLine Capital Assets Limited are members of the Hong Leong group of companies.
As of 31 December 2022, the Group has total assets of S$12.0 billion and total equity attributable to ordinary equity holders of S$4.2 billion. For more information, visit www.guocoland.com.
For media enquiries, please contact:
Winson Teo
Manager, Corporate Communications & Investor Relations
GuocoLand Limited
DID: 6428 7876
Email: winsonteo@guocoland.com
Joanna Wong
Assistant Manager, Corporate Communications & Branding
GuocoLand Limited
DID: 6428 7838
Email: joannawong@guocoland.com
Chia Hui Kheng / Sarah Tan
Citigate Dewe Rogerson Singapore Pte Ltd
General Line: 6534 5122
Email: guocoland@citigatedewerogerson.com
3 / 3
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
GuocoLand Limited published this content on 13 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 July 2023 09:18:04 UTC.
