PRG offers 100 per cent financing for its affordable housing project

Manufacturer-turned-property developer PRG Holdings Bhd is offering 100 per cent financing for its condominium development called Embayu @ Damansara West located in Seksyen U5 in Shah Alam, Selangor.

It has partnered with Maybank Islamic to offer HouzKEY at the lowest rate financing for the first five years.

HouzKEY is a new home financing offering by Maybank Islamic to help first and second home buyers to purchase a home.

According to PRG, potential buyers of Embayu @ Damansara West will only need to pay three months’ refundable deposit upfront and no other payments until the completion of the property.

“We understand the needs of some of our customers who require greater flexibility and cash flow efficiency. Therefore, we see great synergy to work with Maybank Islamic to offer an incentive financing solution to help home seekers overcome their problems and provide them the opportunity to become a homeowner at Embayu,” said PRG managing director for property and construction, Datuk Alex Wee Cheng Kwan.

Wee said HouzKEY was introduced as a home financing solution to help alleviate the burden by providing 100 per cent financing and lower monthly installments.

Embayu, located in Shah Alam, offers 650 residential units with a built-up size of 1,000 sq ft and above. The starting price is from RM450,000.

The project, which has a gross development value of RM270 million is PRG’s maiden venture into the affordable property segment, catered for the mass market.

It is a joint venture (JV) development between PRG and the landowner, Baycity Park Sdn Bhd.

Maybank managing director of Real Estate Ventures Sally Ly believes the partnership with PRG will assist many Malaysians in owning their dream home.

“We understand the challenges Malaysians face in their homeownership journey,” she said.

Source: NST