UDA, Bank Islam Sign MoU To Empower Property Development, Intensify Environmental Sustainability Initiatives

KEPALA BATAS, Oct 18 (Bernama) -- UDA Holdings Berhad (UDA) continues to empower its property development and intensify environmental sustainability initiatives through the signing of a Memorandum of Understanding (MoU) with Bank Islam Malaysia Berhad (Bank Islam) here, today.

Its president and chief executive officer,  Datuk Mohd Salem Kailany said the collaboration enables Bank Islam to provide comprehensive financing, covering housing and commercial, purchase of solar panels and electric vehicle (EV) wall chargers and other related renewable energy solutions.

He said it also covered financing for the cost of renovations and the purchase of furniture and equipment in line with UDA's sustainability goals, which is to empower sustainable lifestyles by encouraging the use of more environmentally friendly renewable energy.

bootstrap slideshow

"This initiative also translates UDA's commitment to balancing development activities with environmental sustainability as well as supporting the government's aspirations towards national sustainability by 2050.

"Through this joint venture, UDA also has the opportunity to expand its marketing of residential real estate products and at the same time introduce housing financing packages as well as additional financing from Bank Islam to potential buyers," he said in a statement given to the media at the MoU signing ceremony at the Crescent Dew Clubhouse near Bertam, here today.

UDA was represented by its Group Chief Operating Officer (Property Development) Noor Azmi Salleh while Bank Islam by its director (Retail Banking and Distribution) Zamree Mohamed.

bootstrap slideshow

Mohd Salem said he hoped the signing of the MoU would benefit both parties, thus stimulating the real estate development sector which contributes to the improvement of the country's economy.

 Meanwhile, Noor Azmi said the collaboration between UDA and Bank Islam could help meet three of the nine Sustainable Development Goals (SDGs) being implemented by UDA, namely the Clean and Affordable Energy Goals; Sustainable Cities and Communities Goals; and Action Goals to Combat Climate Change.

He said it also coincides with UDA's branding which is LIFE ( for Legacy, Integrated, Finesse and Enrich) which is applied in every business chain to continue the UDA legacy with a focus on sustainable development and environmental sustainability.

"This collaboration aims to promote and expand the marketing of UDA real estate products throughout the country and at the same time, introduce Bank Islam's comprehensive financing package to potential buyers, as an effort to make it easier for buyers to own their dream home.

Noor Azmi said the joint venture is seen as a first step for further collaboration through sustainable programmes that benefit both parties, in line with the ESG (Environment, Social and Governance) agenda.

As an agency under the Ministry of Entrepreneur Development and Cooperatives (KUSKOP), he said UDA is committed to working with the ministry to empower entrepreneurs and strive to improve the level of property ownership in urban areas, especially among the Bumiputera.

In the meantime, Zamree described the signing of the MoU as an important achievement for Bank Islam.

He said it proved its commitment to providing the best value for customers in addition to strengthening strategic cooperation and expanding access to affordable housing.

"This collaboration not only benefits Bank Islam, but it also opens up opportunities for our customers to access innovative financial solutions that are Syariah compliance," he said.

Accordingly, he believes that through the collaboration, Bank Islam customers can receive better services and assistance to achieve their financial goals.

-- BERNAMA