KUALA LUMPUR: Bank Islam Malaysia Bhd has signed a financing agreement with developer Urus Maju Ehsan (M) Sdn Bhd (UME) for two waqf land development projects worth RM15.5mil.
The projects, on 485.62ha in Selangor, are the bank’s first waqf land development projects which it is financing, and are expected to begin this year. They will be completed in two to three years. The first project comprises 164 condominium units and 12 shoplot units in Shah Alam covering 1,000 sq ft with a leasehold price of about RM350,000.
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