The 4.5-year $429 million green loan financing package for Northumberland Road is provided by DBS Bank, while UOB has provided the 4.5-year $418 million green loan for Tengah Garden Walk EC. The facilities mark both developers’ first Singapore Overnight Rate Average (SORA)-based green loans.
City Developments Limited (CDL) and MCL Land have secured green loans amounting to $847 million to finance two upcoming residential projects in Singapore the companies will be developing under a 50:50 joint venture.
In May, CDL and MCL Land were awarded two Government Land Sales (GLS) plots at Northumberland Road and Tengah Garden Walk Executive Condominium (EC), having placed the top bids at both sites.
