Titijaya Land Berhad (“Titijaya” or the “Group”), a prominent Malaysian property developer, has announced a new memorandum of understanding (MoU) with Bank Islam Malaysia Berhad (“Bank Islam” or the “Bank”). This strategic alliance aims to boost cooperation and expand access to affordable housing for Malaysians.
Under the MoU, Bank Islam will offer tailored financing solutions to assist homebuyers in acquiring properties developed by Titijaya. This includes a special financing package for eligible first-time buyers under the Skim Jaminan Kredit Perumahan – MADANI (SJKP-Madani), also known as the Housing Credit Guarantee Scheme. The scheme is available for those purchasing homes in Damaisuria, Titijaya’s township project in Bukit Subang.
Datuk Lim Poh Yit, Group Managing Director of Titijaya, expressed gratitude for Bank Islam’s support, noting, “We are excited to enter a new chapter in our collaboration with Bank Islam. Both of us are dedicated to delivering products that meet the needs of Malaysian homebuyers and adapting to evolving market trends. This partnership will enable more young Malaysians and families to purchase homes in Damaisuria and become part of this vibrant community.”
Bank Islam’s Group Chief Business Officer – Group Retail Banking, Mizan Masram, commented, “We are thrilled to enhance our partnership with Titijaya. Our latest home financing offer, featuring competitive rates as low as 3.80% p.a., is designed to meet the diverse needs of today’s homebuyers. Additionally, our Ancillary Financing through Personal Financing products will assist customers with home renovation and furnishing expenses.”
The MoU signing on 15 August 2024 coincides with significant updates on Damaisuria, Titijaya’s flagship integrated township project. The Group introduced 264 @ Seiring, the latest development within Seiring Residensi, the first phase of Damaisuria. Comprising 264 units of freehold serviced apartments in a tower building, 264 @ Seiring is targeted at addressing the demand for affordable, high-quality housing in urban areas, with prices starting from RM270,000 per unit.
Datuk Lim Poh Yit added, “We are excited to continue developing Damaisuria with a project that addresses the high demand for affordable, quality homes in the Klang Valley. The 264 @ Seiring project highlights our expertise in developing serviced apartments, a sector where we have traditionally excelled.”
He further expressed confidence in Damaisuria’s future, noting its strategic position to benefit from long-term growth in the Klang Valley. The project is set to capitalise on major developments such as the Subang Airport Regeneration Plan (SARP) and Google’s new data centre, expected to generate significant economic value and job opportunities.
Seiring Residensi, which includes four towers with a gross development value (GDV) of RM677 million, is a key component of the RM2 billion Damaisuria project. The first tower, Tower A, is nearing completion, with the Group planning a topping-off ceremony and expecting to hand over keys to buyers in Q2 2025. The second tower, 264 @ Seiring (Tower D), follows this development.
The preview of 264 @ Seiring comes after a successful response to Tower A, which achieved an 85% take-up rate by July 2024. Damaisuria, spanning 46 acres, will feature residential, retail, recreational, sport, and service components, with full development anticipated by 2035. The township boasts excellent connectivity via major expressways and the recently completed Damansara-Shah Alam Elevated Expressway (DASH).
