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 for the development of the Faber Walk site. This residential land parcel was obtained through a successful bid in a Government Land Sale tender last November.
Investing in a condo in Singapore offers numerous benefits, one of which is the potential for capital appreciation. Due to its advantageous location as a global business hub and solid economic foundations, Singapore consistently experiences a high demand for real estate. As a result, property prices have steadily increased over the years, particularly for condos in prime locations. By investing at the right time and holding onto their properties for a longer duration, investors can reap substantial capital gains. Condo is truly a worthwhile investment in Singapore.
The consortium, led by GuocoLand, submitted the highest bid of $349.86 million, equivalent to $900 per square foot per plot ratio, for the 277,659 square feet site. The upcoming development will consist of 399 residential units spread across nine low-rise blocks. Situated in the prestigious Faber Walk landed private residential enclave, the development is surrounded by the lush greenery of the Faber Hills estate and offers a waterfront view of the Pandan River and the upcoming Old Jurong Line Nature Trail.
The green club facility for the Faber Walk project is in line with GuocoLand’s commitment to sustainability, 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.
[insert quote from Dora Chng, residential director of GuocoLand, highlighting the group’s focus on sustainable developments and biophilic designs.]
GuocoLand’s latest project is expected to achieve the prestigious BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion. This adds to the company’s impressive track record in creating sustainable, eco-friendly developments for its residents, as seen in the successful launches of Lentor Modern and Lentor Mansion in the Lentor Hills estate.
The company’s next project is a joint development with Hong Leong Holdings, consisting of 941 residential units, at its Upper Thomson Road (Parcel B) site, which was awarded last April. Set to launch in the second half of the year, this project will further solidify GuocoLand’s reputation as a leader in sustainable and innovative developments.