Bank Pembangunan Malaysia Bhd (BPMB) and Firma Atasan Sdn Bhd have signed an RM18.5 million Tawarruq Financing Facility agreement to fund the first phase of the Juru Hills Affordable Housing Project in Penang.
The initiative supports Malaysia’s social housing agenda under the 12th Malaysia Plan and Sustainable Development Goals (SDGs). It also marks BPMB’s first private-sector ESG-compliant affordable housing project.
BPMB Group Chief Executive Officer Roni Abdulwahab said the bank is committed to supporting socio-economic projects and strengthening local businesses.
“BPMB is guided by our DNA to deliver impact capital for national development, reaching the unserved and underserved, and strengthening client capabilities. This partnership with Firma Atasan shows our dedication to making homeownership more accessible while ensuring that sustainability remains at the core of urban development,” he said.
Firma Atasan Executive Director Chew Why Hoong highlighted the project’s additional facilities.
“We are integrating essential facilities such as a Youth Learning Centre and a Nursing Home to enhance the well-being of residents. We believe this project will set a new standard for affordable housing in Penang and beyond,” he said.
The project aligns with Penang2030’s housing targets, addressing the long-term demand for affordable homes as the population grows.
The signing ceremony was attended by Penang Exco for Housing and Environment Datuk Seri Sundarajoo a/l Somu, along with senior representatives from BPMB, Firma Atasan, and Harta Intan Group. The event also gathered policymakers, project consultants, and media representatives to reinforce public-private collaboration in housing development.
