A map showing the location of River Valley Green (Parcel B) (centre) (Picture: EdgeProp LandLens)
GuocoLand has secured a $619.3 million green club facility from United Overseas Bank (UOB), Bank of China (Singapore Branch) and Oversea-Chinese Banking Corporation (OCBC). The facility will be used to finance the acquisition and development of its River Valley Green (Parcel B) site.
GuocoLand was awarded the land parcel through a Government Land Sale (GLS) tender in February after submitting a bid of $627.84 million, or $1,420 psf per plot ratio. The company beat four other bidders to win the tender.
The 99-year leasehold River Valley Green (Parcel B) is a prime District 9 site that measures 126,326 sq ft. GuocoLand says it plans to build a high-end waterfront development with around 455 residential units across two towers, along with commercial shops at the first storey.
The development will be connected to Great World MRT Station on the Thomson-East Coast Line and to the Great World shopping mall via an underground walkway. When completed, it will achieve the Building and Construction Authority's Green Mark Platinum (Super Low Energy) certification with Maintainability badge.
“With direct connectivity to the Thomson-East Coast Line, residents of the future development at River Valley Green will have convenient access to all parts of Singapore, in addition to enjoying the wide selection of shopping and dining options right at their doorstep,” says Dora Chng, residential director of GuocoLand.
She adds: “Residents can also look forward to scenic views of the city and of Singapore River, as well as GuocoLand’s signature features such as lush landscaping and efficient, generous layouts that enhance the liveability of the development.”
The facility secured for the River Valley Green (Parcel B) site adds to GuocoLand’s existing green facilities for several projects. These include the commercial components of its Guoco Tower and Guoco Midtown integrated developments, Lentor Modern, Lentor Mansion, the upcoming Springleaf Residence, and a future development at Faber Walk.