UDA in Talks with Banks for Housing Financing’s New Payment System

The property development is working on an effective housing financing management

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UDA Holdings Bhd, one of the country’s leading property development and asset management companies, were reportedly discussing a payment system for housing financing with several commercial banks.

UDA Holdings Bhd’s Chief Executive Officer, Mohd Salem Kailany said that one bank has agreed to cooperate with UDA Holdings Bhd to implement the system with no further elaboration stated. Bernama reported that Mohd Salem said the launch date of the system will be announced later.

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On the latest news from UDA Holdings, Mohd Salem commented that the developer is currently reviewing five new affordable housing projects which are looking to launch within the year.

“We will be reviewing whether we will launch all five projects or just some of them and will announce it in the second half of this year,” he said. At least five residential projects that are eyeing to capture the younger demographics are set to launch this year. UDA is also planning to develop 1,000 residential units nationwide specifically in Johor Bahru, Kuala Lumpur, Kuantan, Kuala Terengganu and Penang.

When the country is under the implementation of Movement Control Order (MCO), UDA Holdings took some proactive steps to help reduce small and medium-sized enterprises (SMEs) burden by providing assistance like discounts and rent exemptions under UDA’s shopping complexes like Angsana Johor Bahru Mall, Angsana Ipoh Mall and Angsana Seremban.

“We’ve offered one-month rent exemption for April 2020 and 20% discount for the months of May until September 2020,” said Mohd Salem, adding that it costs an estimate of RM10 million and has benefited around 1,500 traders.

Apart from that, UDA has also donated RM200,000 worth of goods, equipment and finances to support some of the major hospitals nationwide such as the Johor Bahru Permai Hospital, Sungai Buloh Hospital, Kuala Lumpur Hospital, Penang Hospital and Rembau Hospital.

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