PKNS, Bank Mualamat ink partnership for housing, commercial properties financing

Bernama English, 11 January 2023


SHAH ALAM, Jan 11 (Bernama) -- The Selangor State Development Corporation (PKNS) has forged a strategic partnership with Bank Muamalat Malaysia Bhd to provide home financing for individuals and business entities as an initiative to assist the community in property ownership, especially for residential and commercial properties.

A memorandum of understanding was signed today for the strategic partnership.

PKNS chief executive officer (CEO) Datuk Mahmud Abbas said Bank Muamalat would provide end financing for properties developed by the corporation nationwide, involving housing developments at various levels, including affordable housing.

“For individuals, Bank Muamalat provides financial advisory services through the Housing Credit Guarantee Scheme (SJKP) and My First Home Scheme (SRP) in collaboration with Syarikat Jaminan Kredit Perumahan Bhd and Cagamas Bhd.

"For the business segment, advisory services and facilities will be provided for small and medium enterprises (SMEs) involving vendors and business partners,” he told reporters here, today.

Mahmud said the financing facility will assist PKNS’ customers, both individuals and business entities, to own properties through packages that are suitable according to the customers' demand and eligibility. He also informed that PKNS has planned to launch 10 housing projects in Selangor such as Shah Alam, Bangi and Selangor Cyber Valley, Cyberjaya.

“PKNS desires to increase the level of home ownership for more people particularly the youth community and first-time buyers,” he said.

Meanwhile, Bank Muamalat president and CEO Khairul Kamarudin said the partnership with PKNS included various aspects of business for the long term considering that the state corporation is a highly reputable developer in the country, especially in Selangor.

"The bank is striving to build a better life with customers and we understand the problems faced by customers, coupled with the current challenging economic situation, especially for first-time house buyers.

“In this aspect, we are ready to provide solutions and financing facilities to individuals and business entities,” he said.




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