The Selangor State Development Corporation (PKNS) expects that housing loan applications for its projects would exceed RM100 million following its collaboration with Bank Simpanan Nasional (BSN).
Its chief executive officer (CEO), Datuk Mahmud Abbas said that the target for the first year of the partnership with BSN is based on the value of the projects launched by PKNS.
PKNS and BSN signed a memorandum of understanding (MoU) yesterday.
Mahmud said that through this arrangement, home purchasers will be able to obtain home loan financing with up to a 100 per cent margin, mortgage takaful protection, legal fees, and appraisal fees over up to 35 years.
They can also win home furnishing packages worth up to RM50,000, he said.
"The strategic collaboration represents one of the efforts to attract potential housebuyers to own their dream home. BSN will offer various loan packages tailored to their (home buyer) customers' needs and what they qualify for to obtain a comfortable and affordable home.
"This cooperation will help improve the development of the housing sector, especially in Selangor, through comprehensive financing packages and whether property development projects have been completed or are under construction," he said on the sidelines after signing the MoU with BSN's CEO Jay Khairil Jeremy Abdullah.
Mahmud said PKNS intends to increase home ownership, particularly among young people and first-time home buyers, through collaborations with banks and business partners.