PROPERTY NEWS: Sunway Property collaborates with Public Bank to promote green and sustainable developments

Key takeaway:

A Memorandum of Understanding (MoU) was signed by Public Bank Bhd and Sunway Integrated Properties Sdn Bhd (Sunway Property) to work together on property finance for green and sustainable development projects.

In accordance with the MoU, buyers who purchased green-certified real estate for both residential and non-residential properties developed by Sunway Property were able to benefit from the Public Bank's exclusive sustainable financing programme, according to the managing director (MD) and chief executive officer (CEO) Tan Sri Dr Tay Ah Lek.

Customers who wish to purchase eco-friendly and energy-efficient appliances, fixtures, and fittings to further enhance the sustainability elements of their properties will be able to take advantage of preferential pricing, fast lane approval, and a financing option through this special package, according to Tay.

According to Tay, the agreement was in line with the bank's sustainability goal, which is to seek climate action and make a contribution to global climate solutions.

"In keeping with Public Bank's commitment to becoming carbon neutral by 2030 and net-zero by 2050, the bank will be mobilising RM40 billion in environmentally, socially, and politically responsible financing by 2025, including making green building financing more readily available to customers," he said.

Tay said the bank was in a good position to promote green property ownership in the nation as the top financier of real estate, with a significant market share of 20,5% and 33,8% in residential and non-residential property financing, respectively, as of June.

The partnership, according to Cheah, was a significant step in both firms' joint path to a carbon-neutral Malaysia.

She said, "we are certain that via this partnership, we can build on our strengths, benefit the greater community, and advance the 2030 goal."

© September 2022, nst.com.my