By V. Sivaji
Eastern & Oriental Berhad through its subsidiary Perdana Mentari Sdn Bhd and Alliance Bank Malaysia Berhad sealed a memorandum of understanding (MOU) for the Green Mortgage Financing Package.
Present was E&O Berhad’s Executive chairman Datuk Tee Eng Ho, managing director, Kok Tuck Cheong along with Alliance Bank Malaysia Group chief executive officer, Kellee Kam and his team.
The move will enable Green Mortgage Financing Package to promote end-financing for the serviced residence development at the Andaman Island, known as “Arica”.
“Today’s signing sets a landmark as we come together to embrace our commitment to a greener and more sustainable future.
“We always aspire to do things differently. always for the better with sincerity, integrity and passion for the betterment of the future.
“The name Arica is already well known for a low-density residential home with 380 units. It is designed and crafted with a stylish simplicity concept in mind, fitted and furnished with premium finishing,” said Kok in his opening remarks.
It should be noted that since Arica’s launch in March this year, it has reached a commendable take up of 75 percent. The project is expected to be completed by 2026.
Meanwhile, Kam in his address, conveyed his heartfelt thanks to E&O for partnering with Alliance Bank in realizing their shared goal of fostering a more sustainable community and environment.
“Property development is a significant contributor to our nation’s economic stability, creating jobs, fostering community cohesion, and preserving or increasing home values for all Malaysians.
“Among the key factors influencing the trends of new and younger home buyers are smaller homes as as city populations expands, homes will naturally become smaller and homebuyers will be on the lookout for properties that are more space and energy efficient.
“With the introduction of smart home technologies and home energy management in new properties that are being developed, homebuyers are starting to prefer green properties as they not only look forward to a lower-carbon lifestyle but more importantly, they will be able to enjoy energy and maintenance cost savings from their home.
“Finally, today, many young homebuyers favour mixed-development that integrates entertainment, recreational, commercial and transport facilities into residential spaces.
“Meanwhile, Green properties embrace sustainability principles at its core and prioritise green parks and recreational areas, better ventilation and more efficient water treatment and waste management systems, environment and the wellbeing of its tenants and residents,” shared Kam.
He also applauded the E&O Andaman Island is a perfect blend of all the key factors with its peacefully green island life completed by exciting urban living.
Guests at the gathering were also treated to a fine lunch following the MOU signing.
