GuocoLand has secured a $367.1 million green club facility from DBS Bank to develop its Faber Walk site. The residential land parcel was awarded through a Government Land Sale tender last November to GuocoLand and its joint venture partners, TID and Hong Leong Holdings. The partners submitted the top bid of $349.86 million, or $900 psf per plot ratio, for the 277,659 sq ft site.
The future development will feature 399 residential units across nine low-rise blocks. It is set within the Faber Walk landed private residential enclave, adjacent to the Faber Hills estate. This waterfront development is situated next to the Pandan River and the forthcoming Old Jurong Line Nature Trail.
The green facility for the Faber Walk project complements GuocoLand’s existing sustainable initiatives across its other developments, 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 expected to achieve the BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion.
Dora Chng, residential director of GuocoLand, says: “We look forward to leveraging the group’s end-to-end value chain capabilities to create sustainable developments with biophilic designs for our residents, similar to our previous successful launches like Lentor Modern and Lentor Mansion in the Lentor Hills estate.”
GuocoLand’s upcoming project is a 941-unit development at its Upper Thomson Road (Parcel B) site, which was awarded last April. A joint development with Hong Leong Holdings, the project is targeted for launch in the second half of the year.
