Bank Negara: Risks contained for non-residential property sector despite challenges
Risks in the non-residential property (NRP) sector remained contained in the second half of 2024 (2H 2024) despite continued challenges
Eco World Development Group Bhd will provide green and sustainable development financing for the properties that the company develops.
The company today signed a Memorandum of Understanding with Public Bank Bhd to provide consumers with its special sustainable financing package for the purchase of EcoWorld properties that have earned green certifications from Green Building Index, GreenRE, and other accreditation agencies.
The package is a part of Public Bank's green initiatives, which seek to encourage individuals and businesses to adopt environmentally friendly practises and lessen their carbon footprints.
It covers the financing of both residential and non-residential assets in accordance with Public Bank's Green 5HOME Plan and Green SWIFT Plan.
Attractive features offered include discounted pricing, fast lane approval, and a financing option for customers looking to upgrade the sustainability aspects of their houses with eco-friendly and energy-efficient appliances, fixtures, and fittings.
EcoWorld's president and chief executive officer, Datuk Chang Khim Wah, expressed his company's pleasure at working with Public Bank to encourage their respective customers to embrace sustainability in their residences, places of employment, and daily lives.
"The need to take proactive steps to combat climate change has never been more urgent. With Public Bank as our partner, it is easier and more affordable for customers now to own a green-certified property. On our part, we will continue to pursue sustainable development, promote green living and invest in green certification for our projects. This is a commitment we made since we first established the EcoWorld brand and to date, close to 90 per cent of our projects are green accredited," he said.
Chang said from an environmental, economic, and societal standpoint, Eco Grandeur, Eco Business Park V (EBP V), and Laman Haris (Settler Home Precinct) are EcoWorld's most comprehensive expressions of the company's sustainability objectives to date.
"As a developer, our greatest desire is to create outstanding living, working, and recreational spaces that will positively impact lives and livelihoods. Today, less than six years since we first acquired the lands in 2016, the entire corridor where Eco Grandeur and EBP V are situated has become a thriving residential, commercial, and industrial hub," he said.
Chang thanked Public Bank for supporting EcoWorld during construction on the nearly two-decade-old abandoned site.
Social justice issues were also addressed when Eco Grandeur successfully finished and handed over 987 landed units to the original inhabitants of the land who had waited more than 20 years for their dream homes, following the project's abandonment by the original developers.
