Sunway Bhd has unveiled a unique campaign featuring guaranteed loans of up to 88%, deferred payment and voluntary exit plan for house buyers.
Managing director for property development division for Malaysia and Singapore, Sarena Cheah, said the company would offer financing from internally-generated funds as an option if the buyers were unable to get financing from banks.
Explaining the ‘Sunway Property Certainty Campaign’, she said: “We are not competing with banks and this is not a gimmick.
“We are just coming in to help during these uncertain times because every individual is different.”
The deferred payment initiative refers to a package that offers zero payment for a period of 12 to 24 months, while the voluntary exit plan is a package that allows a buyer to withdraw from the sales and purchase agreement in an unfortunate event – such as when losing a job.
“We are still seeing demand for good and well-located properties in the market. However, with the uncertain times now, the timing of the people’s commitment to properties is something of great concern.
“In response, Sunway is offering a plan which would provide financial flexibility and assurance for the comfort of our purchasers.”
The guaranteed loan is offered on a first come-first served basis on Sunway’s launched and on sales projects.
It would, however, be subjected to certain Sunway’s basic criteria and interest rate could be higher than what the commercial banks offer.
The basic criteria are that a buyer must be above 18 and not a bankrupt.
At the event, Cheah also unveiled the final phase of the Sunway GEO series located at Sunway South Quay here, a condominium project in Mont Kiara, Kuala Lumpur and serviced apartments in Bangi, Selangor.
“The gross development value for the three projects is estimated at RM800 million. The campaign, which will last till end-September, 2016, will apply to these buyers.”