KUALA LUMPUR: TH Properties Sdn Bhd will be investing another RM100 million in infrastructural development at its RM9.2 billion Bandar Enstek project in Negeri Sembilan, said its chief executive officer Zaharuddin Saidon.
"We are now opening up our techpark@enstek 2 and we need to put in place the infrastructure so we are going to spend about RM100 million this year to provide the necessary construction," he said after a memorandum of agreement (MoA) signing ceremony between TH Properties and Bank Islam Malaysia Bhd here yesterday.
TH Properties bought the 5,116-acre land for about RM800 million. The gross development value of the project is RM9.2 billion, while the gross development cost is RM7.4 billion. Bandar Enstek is expected to be completed in 2025.
Pursuant to the MoA with Bank Islam, prospective buyers will be able to secure financing packages of up to 100% for timur@enstek homes exceeding RM250,000 and may be exempted from making payments during the construction, or a grace period of up to three years.
In addition, Bank Islam also introduced a "two-month payment holiday" scheme where customers could skip paying instalments for November and December.
Bank Islam managing director Datuk Zukri Samat said it had a proper credit control system and not everyone would be eligible for the 100% financing.
To date, more than 24 units of timur@enstek's Matahari A&B bungalows had been sold. Seventy units of Bayu single-storey link homes were under construction for completion by January, said Zaharuddin.
He also said that the Rimbun superlink homes were launched in April and 40% of them had been taken up. "By the end of the year, we expect to be able to sell all the 100 units."
By The EDGE Malaysia (by Lu Jing Shia)