EcoWorld in end-financing tie-up with Public Bank

From left: Public Bank Bhd deputy chief executive officer Datuk Chang Kat Kiam, Public Bank managing director/CEO Tan Sri Tay Ah Lek, Eco World Development Group Bhd president & CEO Datuk Chang Khim Wah and Eco World Development deputy president & deputy CEO Liew Tian Xiong.

PETALING JAYA: Eco World Development Group Bhd (EcoWorld) has inked a memorandum of understanding (MoU) with Public Bank Bhd to offer a special end-financing package for EcoWorld’s projects with green certifications.

Under the MoU, Public Bank will offer a special sustainable financing package to customers for properties developed by EcoWorld that have attained certifications from Green Building Index, GreenRE and other accreditation bodies.

The financing packages, Public Bank’s Green 5Home Plan and Green Swift Plan, cover residential and non-residential properties and form part of the bank’s green initiatives to encourage individuals and businesses to reduce their carbon footprint and pursue sustainability.

Other features include preferential pricing, fast lane approval and financing options for customers who wish to purchase eco-friendly and energy efficient appliances, fixtures and fittings to enhance the sustainability elements of their property.

The MoU was singed at Eco Grandeur – EcoWorld’s largest township which is situated in Puncak Alam in the Klang Valley.

Eco Grandeur and Eco Business Park V (EBP V), which is part of EcoWorld’s series of green industrial parks being developed in the same vicinity, have a total combined acreage of close to 2,300 acres.

Both Eco Grandeur and EBP V projects are funded by Public Bank, EcoWorld’s financing partner right from the beginning in 2016, the developer stated in a release.

Public Bank’s managing director and CEO Tan Sri Tay Ah Lek said the collaboration would bring positive changes to the planet.

“It presents a good opportunity for Public Bank and EcoWorld to jointly promote the green building agenda and be part of the global climate solution for a sustainable planet,” he said.

In its efforts to achieve carbon neutrality by 2030 and net-zero emissions by 2050, Public Bank will be mobilising RM40bil in environmental, social and governance-friendly financing by 2025 including making green building financing more accessible to customers.

EcoWorld president and CEO Datuk Chang Khim Wah said both parties are working together to encourage mutual customers to embrace sustainability in their lifestyles, homes and business premises.

“The need to take proactive steps to combat climate change has never been more urgent,” Chang said adding close to 90% of EcoWorld’s projects to-date are green accredited.

To reflect EcoWorld’s long-term sustainability aspirations, the developer laid out a detailed sustainability framework for both Eco Grandeur and EBP V from the outset.

At the earliest stage, the gaps and needs of the site were analysed, including issues faced by the local and surrounding communities and how they can be improved and mitigated after acquiring the abandoned site in 2016 from its previous developers.

“Eco Grandeur successfully completed and handed over 987 landed units to the original settlers of the land who had waited for more than 20 years for their dream homes, following the abandonment of the project by the previous developers,” EcoWorld noted.

Tay highlighted that while the property sector is an important contributor to the nation’s gross domestic product, studies show the sector drives almost 40% of global carbon emissions, making it central to global climate change mitigation efforts.