UDA hopes to sell more properties in Penang

UDA Holdings Bhd is offering HouzKEY, an innovative financing method in partnership with Maybank Islamic to facilitate homeownership and it is hoping to increase the sales of its latest project, Evoke Residence in Penang.

Evoke Residence, located in Seberang Perai, boasts 300 residential units with a build-up of 1,100 square ft.

This is a low-density 35-storey condominium block which is designed to accommodate the needs of city living. It is part of UDA’ 21-acres mixed development – Gravitas, located along Jalan Baru.

Developed by Uda Land (North) Sdn Bhd, Evoke Residence is selling each unit from RM450,000, or at around RM400 psf. The project is slated to be completed this year.

UDA said the HouzKEY initiatives will ease the burden and at the same time provide alternative financial assistance for homebuyers.

In conjunction with the 50th anniversary of the establishment of UDA, through this program, the group hopes to increase the rate of homeownership, especially in Penang.

UDA president and chief executive officer, Sr Mohd Salem Kailany said that Maybank Islamic will offer up to 100 percent financing and no down payment is charged.

Further, he said that upon getting three guarantors, buyers can increase the potential for financing approval.

Mohd Salem said that with the low cost of moving in, namely three months of monthly installments which is refundable subject to terms and conditions, this is a new method to help people to own a home without having to take a longer time to save money to pay for a high amount of down payment.

“As property prices increase from time to time, HouzKEY is the best option, especially for young people who are still renting or for first-time homebuyers who find it difficult to provide a 10 percent down payment,” Mohd Salem said.

Source: NST