CPI Land Signs Rm228 Million Financing Facilities With Ambank For 3 Development Projects In Kuala Lumpur

KUALA LUMPUR, Aug 23 2024 (Bernama) — AmBank Group has granted RM228,000,000 financing facilities to TNJ Development Sdn Bhd (subsidiary of CPI Land) to part finance the development costs for 3 of its latest real estate projects in Kuala Lumpur. These include Tuan Heritag3 located in Segambut which is expected to be completed in the 4^th quarter of 2028, and 2 more upcoming real estate projects in Bukit Permata and Selayang Mulia, both under other subsidiaries of the company, namely CPI Mulia Sdn Bhd and CPI Asset Sdn Bhd respectively. The signing ceremony took place at Tuan Heritag3, a 45-storey tower comprising 1,269 units of Serviced Apartments and the third chapter in the signature Tuan Series development by TNJ Development.
 
As part of the bank’s support towards financing affordable real estate developments, particularly in prime urban areas, this marks the 6th project in which the bank has financed for CPI Land, the first being in 2011.  To date, CPI Land has launched 8 developments concentrated in Klang Valley with a GDV close RM2.2 billion. Their projects also continue to place emphasis on affordability, targeting low to medium income group homebuyers.
 
Christopher Yap, Managing Director, Business Banking, AmBank Group said, “We are honoured to support CPI Land as they continue to expand their presence in the real estate market. In addition to the 3 new projects, we have part financed for CPI Land, we hope to continue to expand opportunities in the coming years and working together with clients who share a common goal with us in achieving social impact. We look forward to the continued success together in shaping a more sustainable future.”
 
Chung Shan Tat, Chairman, CPI Land, said “CPI Land is thrilled to enter into this agreement with AmBank Group, marking the beginning of a promising collaboration. We are confident that this will not only strengthen our working relationship but also pave the way for significant growth and innovation in the property market. Together, we aim to leverage our combined expertise to deliver outstanding results and create lasting value for our buyers and communities.
 
At CPI Land, we are proud of our track record in successfully launching multiple developments that have redefined the standards of quality and affordability in the housing sector. This partnership is a natural extension of our mission to change the landscape of the property market by providing homes that are both aesthetically pleasing and affordable. Our latest development, Tuan Heritag3 is a prime example of that. Inspired by the much-admired colonial era opulence, this project incorporates a myriad of amenities assuring our buyers of a higher quality of living with a price point that is accessible.”