UDA teams up with Bank Muamalat to boost property ownership

Bernama (English), 1 April 2021

KUALA LUMPUR, April 1 -- UDA Holdings Bhd and Bank Muamalat Malaysia Bhd have signed a memorandum of understanding (MoU) to encourage ownership of residential and commercial properties among every layer of society and entrepreneurs.

UDA president and chief executive officer Mohd Salem Kailany said through the collaboration, 14 residential and commercial development projects would be undertaken nationwide.

“UDA, which is an agency under the Ministry of Entrepreneur Development and Cooperatives, will provide all types of properties in an effort to increase property ownership in the country.

“For the business segment, advisory services and facilities are targeted at the small and medium enterprises (SMEs) involving vendors and business partners,” he told reporters after the signing ceremony here today.

The MoU was signed by Mohd Salem on behalf of UDA while Bank Muamalat was represented by its chief executive officer Khairul Kamarudin.

Meanwhile, Bank Muamalat head of consumer banking division Zury Rahimee Zainal Abiden said the bank would provide end financing to potential buyers forproperties developed by UDA.

He said the bank aimed to finance RM100 million through the Housing Skim Jaminan Kredit Perumahan (SJKP) and My First Home Scheme (SRP) by the end of this year.

“Financing of up to 100 per cent will be given as well as easy approval being offered within 48 hours to eligible applicants,” he said.

He added that Bank Muamalat also offered competitive profit rates to potential buyers with a satisfactory credit rating.



(Web source: https://www.bernama.com/en/business/news.php?id=1947978)