Glenmarie Properties, Bank Muamalat collaborate on home financing package

SHAH ALAM: Glenmarie Properties Sdn Bhd (GPSB), a wholly-owned subsidiary of DRB-Hicom Bhd, has collaborated with Bank Muamalat Malaysia Bhd (BMMB) to develop a home financing package called, "Glenmarie-Muamalat Home Ownership Made Easy (H.O.M.E).

The package is an exclusive financing package for potential buyers for the Glenmarie Gardens and Laman Glenmarie projects developed by the company, said DRB-Hicom group director property and infrastructure Siti Mariam Mohd Desa.

"With the collaboration, buyers can benefit from competitive financing rates, convenience of online repayment via and a longer financing tenure of up to 70 years or a maximum financing duration of 40 years," she added.

Both parties today inked a memorandum of understanding (MoU) and made available the financing package at selected Bank Muamalat's Klang Valley branches to end-finance the projects.

Meanwhile, Glenmarie Gardens comprises 70 units of two and three-storey exclusive houses to be launched in three phases.

"The first phase launched in November last year is fully sold. The second phase is expected to be launched in the second quarter of this year with the last scheduled for 2012," Siti Mariam told reporters after the signing of the MoU.

Laman Glenmarie is a freehold property development covering 28 hectares of land at Section U1A, Shah Alam and consisting of 385 units of two-storey link houses.

Through the MoU, Bank Muamalat offers a financing option of Moving Costs and Related Expenses (MCRE), which is inclusive of Mortgage Reducing Term Takaful (MRTT) and legal fees, a Zero Payment Scheme and Gradual/Step-up Payment Scheme. — Bernama

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