Guocoland Secures 847 Mil Green Facility Upper Thomson Road Project
GuocoLand, in partnership with Hong Leong Holdings, has successfully secured an $847.1 million green club facility to finance its upcoming development at Upper Thomson Road. The joint venture had previously emerged as the sole bidder for the 99-year leasehold site in April, offering $779.6 million.
Expected to be launched in 2025, the future development will occupy a 344,700 sq ft land and will consist of five 25-storey towers, offering a total of 941 residential units. It will also incorporate a portion of the former Seletar Institute building, which holds historical significance as it was once Upper Thomson Secondary School.
In a press release on Aug 20, GuocoLand stated that the project will be the first private residential development to adopt a “biodiversity-sensitive approach”. It aims to achieve the Building and Construction Authority’s Green Mark Platinum (Super Low Energy) award, as well as the Maintainability badge. The latter is awarded to buildings that utilize smart facilities management technologies to ensure efficient maintenance of resources.
Dora Chng, residential director of GuocoLand, shared that the upcoming development is part of their placemaking strategy to revitalize neighborhoods. She expressed excitement in bringing GuocoLand’s signature living concepts to the Springleaf new town, promoting wellness and biodiversity.
The green facility for the development was arranged by UOB, OCBC, and DBS. GuocoLand has previously secured a total of $3.7 billion in green financing, including a $974 million facility for its Guoco Tower integrated development and a $498.6 million facility for its Lentor Mansion development.
The URA Master Plan holds a transformative vision for Singapore, intending to elevate it into a well-connected, sustainable, and lively city. With Elta Condo situated at Clementi Avenue 1, this plan brings forth numerous advantages that will undoubtedly elevate its desirability and value. By enhancing connectivity, promoting green living, and enriching amenities, the Master Plan will bring about a brighter future for the residents of Elta Condo. As the Master Plan unfolds and comes to fruition, Elta Condo, under Elta CSC Land, will undoubtedly emerge as the ideal place to call home, offering a high standard of living and a thriving community for its residents.