Titijaya Land Berhad (“Titijaya” or the “Group”), a leading Malaysian property developer, has signed a memorandum of understanding (MoU) with Bank Islam Malaysia Berhad (“Bank Islam or the Bank”) to strengthen strategic cooperation and broaden access to affordable homes for Malaysians.

Under this MoU, Bank Islam will provide financing solutions that meet the unique needs of today’s homebuyers, providing the end-financing for them to acquire properties developed by the Group. These solutions include a special financing package for eligible first-time homebuyers involving Skim Jaminan Kredit Perumahan - MADANI (SJKP-Madani) also known as the Housing Credit Guarantee Scheme, offered to Malaysians who want to purchase a home in Damaisuria, the Group’s township project in Bukit Subang.

Datuk Lim Poh Yit, Group Managing Director of Titijaya Group, said: “We wish to thank Bank Islam for their support and are excited to enter a new chapter in our working relationship. Both of us share a commitment to delivering products that address the needs of Malaysian homebuyers and adapt to changing market trends. Together, we will open up opportunities for many more young Malaysians and families to buy a home in Damaisuria and be part of this vibrant township.”

Mizan Masram, Bank Islam Group Chief Business Officer – Group Retail Banking, said: "We are thrilled to strengthen our partnership with Titijaya through the signing of this MoU. Our latest home financing offer is among the most competitive in the market, featuring rates as low as 3.80% p.a.”

“Moreover, customers applying for financing with Bank Islam for the Damaisuria project will benefit from our Ancillary Financing through our Personal Financing product, making it more convenient to cover home renovation and furnishing expenses. These comprehensive solutions will empower homeowners to create their ideal living spaces with greater ease and financial flexibility."

Mizan adds, “Bank Islam is dedicated to offering tailored home financing solutions that address the diverse needs of all customer segments, ensuring that everyone finds the perfect fit for their dream home."

In addition to the MoU signed with Bank Islam on 15th August 2024, Titijaya also announced major updates on Damaisuria, the Group's flagship integrated township project in the Klang Valley. This first major update is the preview of 264 @ Seiring, the next project within Seiring Residensi, the first phase of Damaisuria. 264 @ Seiring comprises 264 units of freehold, serviced apartments in a tower building. The project targets pent-up demand for high-quality yet affordable housing in urban areas, with prices starting from RM270,000 a unit.

Datuk Lim Poh Yit said: "We are thrilled to embark on the next chapter in the development of Damaisuria with a project that will meet the booming demand for affordable, high-quality homes in the Klang Valley. 264 @ Seiring allows us to leverage our strengths in the real estate sector, where developing serviced apartments has traditionally been one of our fortes.”

“As a Group, we remain highly confident in the future of Damaisuria. We have strategically positioned Damaisuria to capture the long-term growth of the Klang Valley, whether from Subang, Shah Alam, or Kota Damansara.”

“With Damaisuria, we will be able to capitalise on catalytic developments across the Klang Valley, such as the Subang Airport Regeneration Plan (SARP) as well as Google's upcoming data centre in Malaysia, which will be just 10 kilometres away from Damaisuria. These projects are expected to unlock billions of ringgit in economic value and support tens of thousands of high-quality jobs."

Seiring Residensi comprises four towers with a gross development value (GDV) of RM677 million. The Damaisuria project as a whole has an estimated GDV of RM2 billion.

The first tower of Seiring Residensi, Tower A, is nearing completion, with the Group holding a topping-off ceremony on the same day to mark the construction milestone. Titijaya now expects to hand over keys to buyers in Q2 2025. The second tower to be developed is 264 @ Seiring, Tower D.

The preview of 264 @ Seiring follows a highly positive market response to Tower A. As of July 2024, Titijaya has achieved an 85% take-up rate for Tower A.

Damaisuria is a massive urban real estate development spearheaded by Titijaya. Spanning 46 acres — approximately the size of 34 football fields — the master plan for Damaisuria includes residential, retail, recreational, sport, and service components within one gated, integrated township. Development of Damaisuria is expected to take place across four phases, with completion anticipated around 2035.

Damaisuria offers seamless accessibility across the Klang Valley and Greater KL region via major expressways like the New Klang Valley Expressway (NKVE), Guthrie Corridor Expressway (GCE), and the North-South Central Link. The recently completed Damansara-Shah Alam Elevated Expressway (DASH) further enhances its connectivity, creating a direct link from Damaisuria to Petaling Jaya and Kuala Lumpur.

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