News: UDA To Introduce Payment System For Housing Financing

May 13, 2020

UDA Holdings Bhd is in discussion with several commercial banks to implement a payment system for home financing. So far, one bank has agreed to help in establishing the payment system, said UDA Holdings CEO Mohd Salem Kailany.

“The launch date of the system will be announced later,” as reported in Bernama.

On the company’s latest property project, Mohd Salem said they are reviewing five affordable housing projects that are set for launch this year.

“We will be reviewing whether we will launch all five projects or just some of them .. will announce it in the second half of this year.”

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The property development and asset management company had recently announced that it will launch at least five housing projects aimed at young people this year.

It intends to develop 1,000 housing units in Kuala Terengganu, Kuantan, Johor Bahru, Kuala Lumpur and Penang.

Meanwhile, UDA Holdings took proactive steps during implementation of the government’s Movement Control Order (MCO) by providing rent assistance to minimise the burden of small and medium-sized enterprises, said Mohd Salem.

The assistance includes rent exemptions and discounts in UDA-controlled shopping complexes like Angsana Ipoh Mall, Angsana Seremban and Angsana Johor Bahru Mall.

“The one-month rent exemption for April 2020 and the 20% rent discount for May until September 2020,” totalled about RM10 million and benefitted 1,500 traders, added Mohd Salem.


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Ali Hanafiah Mohamed
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Starcity Property Sdn. Bhd.
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