Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
A consortium led by GuocoLand's Singapore subsidiary, alongside Intrepid Investments and CSC Land Group, won the tender for a land parcel at Tengah Garden Avenue for Singapore USD 675 million. The group plans to develop the site into a mixed-use hub with commercial spaces and approximately 860 residential units. Positioned near the upcoming Hong Kah MRT Station and future Tengah Hospital, the project promises excellent connectivity. GuocoLand, indirectly controlled by Malaysian billionaire Quek Leng Chan, also secured two green loans totalling Singapore USD 1.24 billion to refinance its ongoing property developments, highlighting its focus on sustainable growth.
A consortium comprising GuocoLand's subsidiary based in Singapore, Intrepid Investments, and CSC Land Group emerged victorious in the tender for a prime land parcel located at Tengah Garden Avenue, Singapore. The consortium acquired the plot for Singapore USD 675 million (approximately USD 496.43 million), as disclosed by the real estate group on Tuesday. The consortium plans to develop the land into a dynamic mixed-use hub. The project will include commercial spaces spread across a site area of 25,458.4 square meters, along with approximately 860 residential units situated above the commercial establishments. Advertisement
The location offers convenient connectivity, positioned next to the upcoming Hong Kah MRT Station on the Jurong Region Line, with bus services also set to serve the area along Tengah Garden Avenue. Furthermore, the site is strategically located opposite the future Tengah Hospital and lies within two kilometers of the planned Anglo-Chinese School (Primary), enhancing its appeal for both residential and commercial purposes. The ownership distribution of the land parcel is as follows: GuocoLand holds a 20% interest, Intrepid Investments controls 60%, and CSC Land Group holds the remaining 20%.
In a separate development, GuocoLand, which operates under the indirect control of Malaysian billionaire Quek Leng Chan, recently secured two green loans worth a combined total of Singapore USD 1.24 billion. The company has designated these loans for refinancing its ongoing mixed-use and luxury residential projects, thereby reinforcing its commitment to sustainable development. The move reflects GuocoLand's continued efforts to expand its portfolio within Singapore's competitive property market while embracing environmentally conscious financing options.
GuocoLand is a leading real estate group focused on property investment and development across Singapore, China, and Malaysia, with a portfolio valued at Singapore USD 6.56 billion. It creates distinctive commercial, mixed-use, and residential properties, such as Guoco Tower and Wallich Residence, and manages the entire real estate value chain. Listed on the Singapore Exchange, GuocoLand is part of the Hong Leong Group in Malaysia.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
