GuocoLand, together with its joint venture partners TID and Hong Leong Holdings, has successfully secured a green club facility worth $367.1 million from DBS Bank to develop the Faber Walk site. This site, measuring 277,659 sq ft, was awarded to the partners through a Government Land Sale tender in November last year. Their bid of $349.86 million, or $900 psf per plot ratio, emerged as the top bid.
The Faber Walk development will consist of 399 residential units spread across nine low-rise blocks. Situated within the Faber Walk landed private residential enclave, it is adjacent to the Faber Hills estate. With a waterfront location next to the Pandan River and the upcoming Old Jurong Line Nature Trail, this development promises a serene and nature-rich living environment.
The green club facility for the Faber Walk project serves to enhance GuocoLand’s existing sustainable initiatives seen across 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.
In line with GuocoLand’s commitment to sustainable development, the Faber Walk project is expected to receive the BCA Green Mark Platinum (Super Low Energy) award and Maintainability badge upon completion. Dora Chng, the residential director of GuocoLand, shares her excitement over the group’s ability to leverage its end-to-end value chain capabilities in creating sustainable developments with biophilic designs, just like their previous successful launches such as Lentor Modern and Lentor Mansion in the Lentor Hills estate.
When it comes to investing in a condo, financing is a crucial element to consider. Luckily, there are various mortgage options available in Singapore. However, it is important to keep in mind the Total Debt Servicing Ratio (TDSR) framework, which restricts the amount of loan a borrower can take based on their income and current debt commitments. Familiarizing oneself with the TDSR and seeking guidance from financial advisors or mortgage brokers is key in making well-informed decisions about financing and avoiding excessive borrowing. In light of this, it is advisable for investors to also explore Singapore Projects when looking into condo investments.
GuocoLand has another upcoming project in the pipeline, a joint development with Hong Leong Holdings, which will boast 941 residential units at its Upper Thomson Road (Parcel B) site, awarded last April. Set for launch in the second half of this year, this project looks to be another successful addition to GuocoLand’s portfolio.