KUALA LUMPUR: Bank Pembangunan Malaysia Bhd (BPMB) has signed an RM18.5 million Tawarruq Financing Facility agreement with Firma Atasan Sdn Bhd to support the first phase of the Juru Hills Affordable Housing Project in Penang.
In a statement today, BPMB said the financing aligns with Malaysia’s social housing agenda, the 12th Malaysia Plan, and the country’s sustainable development goals (SDGs).
"It is also BPMB’s first private-sector environmental, social, and governance (ESG) compliant affordable housing initiative,” it said.
BPMB group chief executive officer Roni Abdulwahab said the bank is committed to supporting socio-economic projects and strengthening local businesses.
"Our DNA guides BPMB to deliver impact capital for national development, reaching the unserved and underserved, as well as strengthening client capabilities.
"This partnership with Firma Atasan shows our dedication to making homeownership more accessible while ensuring that sustainability remains at the core of urban development,” he said.
Firma Atasan executive director Chew Why Hoong said the project includes a youth learning centre and a nursing home to enhance residents’ well-being.
"We believe this project will set a new standard for affordable housing in Penang and beyond,” he said.
BPMB added that the project supports Penang2030’s housing targets by addressing the growing long-term demand for affordable homes.
The signing ceremony for the financing facility agreement was attended by Penang Exco for Housing and Environment Datuk Seri S Sundarajoo, senior representatives from BPMB, Firma Atasan, and Harta Intan Group, along with policymakers, project consultants, and media. - Bernama
