UDA Holdings plans payment system for housing finance
By FocusM |   |  Mainstream, Property

KUALA LUMPUR: Property development and asset management company UDA Holdings Bhd is in talks with several commercial banks in the country to implement a payment system for effective housing financing.

Its CEO Mohd Salem Kailany said so far one bank has agreed to cooperate with UDA Holdings in establishing the payment system but declined to elaborate.

"The launch date of the system will be announced later," he said in an interview.

Commenting on the latest property project, Mohd Salem said UDA Holdings is reviewing five new affordable housing projects scheduled to be launched this year.

"We will be reviewing whether we will launch all five projects or just some of them ... we will announce this in the second half of this year," he added.

UDA Holdings recently said it will launch at least five residential projects targeting young people this year, comprising 1,000 residential units in Kuantan, Kuala Terengganu, Penang, Johor Bahru and Kuala Lumpur.

Meanwhile, during the implementation of the Movement Control Order (MCO), UDA Holdings according to Mohd Salem took proactive steps by providing rent assistance to reduce the burden of SMEs.

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

“The one-month rent exemption is for April and the 20% rent discount if for May until September,” he said, adding that the assistance involved an estimated cost of RM10 mil and benefits 1,500 traders.

In addition, UDA Holdings also donated RM200,000 worth of goods, equipment and funds to several hospitals including Sungai Buloh Hospital, Kuala Lumpur Hospital, Penang Hospital, Rembau Hospital and Johor Bahru Permai Hospital. - May 11, 2020, Bernama

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