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GuocoLand, together with its joint venture partners TID and Hong Leong Holdings, has secured a green club facility worth $367.1 million from DBS Bank to develop its Faber Walk site. The land parcel, acquired through a Government Land Sale tender in November last year, saw the partnership emerge as the highest bidder with a bid of $349.86 million, equating to $900 per square foot per plot ratio, for the 277,659 square feet site.
The development, located in the coveted landed private residential enclave of Faber Walk, will comprise of nine low-rise blocks and 399 residential units. Situated next to the Pandan River and the upcoming Old Jurong Line Nature Trail, the development boasts a prime waterfront location.
GuocoLand’s commitment to sustainability is evident in their existing projects, including 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 no exception, with the group aiming to achieve the BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion.
Dora Chng, residential director of GuocoLand, expresses excitement over the opportunity to leverage the group’s end-to-end value chain capabilities to create sustainable developments with biophilic designs for residents. This aligns with their successful previous launches, such as Lentor Modern and Lentor Mansion in the Lentor Hills estate.
GuocoLand’s next highly anticipated project is a 941-unit development at its Upper Thomson Road (Parcel B) site, awarded in April last year. A joint development with Hong Leong Holdings, the project is on track to launch in the second half of this year.