KUALA LUMPUR, Aug 23 (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.” 

About AmBank Group

AmBank Group is a leading financial services group with over 40 years of expertise in supporting the economic development of Malaysia. We have over three million customers and employ over 8,000 people.
 
The Group was listed on the Main Market of Bursa Malaysia in 1988. It is the sixth-largest banking group by assets in Malaysia, with a market capitalisation of more than RM13 billion as at 31 March 2024.
 
AmBank Group serves over three million individual and corporate customers. It provides services in wholesale banking, retail banking, business banking, investment banking and related financial services which include Islamic banking, underwriting of general insurance, life insurance, family takaful, stock and share broking, futures broking, investment advisory and asset management services in unit trusts and real estate investment trusts.

For more information, please visit www.ambankgroup.com

ABOUT CPI Land
 
CPI Land is a leading property developer dedicated to creating exceptional residential projects that redefine urban living. With a strong commitment to quality, innovation, and customer satisfaction, CPI Land aims to enhance the way people live, work, and play through its developments. Known for their attention to detail and meticulous craftsmanship, CPI Land continues to shape the landscape of the real estate industry by delivering extraordinary projects that inspire and elevate lifestyles.
 
For more information, please visit www.cpiland.com   

SOURCE: AmBank Group

FOR MORE INFORMATION, PLEASE CONTACT: 
AmBank Group
Name: Ridzuan Zulkifli
Senior Vice President, Group Corporate Communications and Marketing
Email: ridzuan.zulkifli@ambankgroup.com
Media Relations team 
Email: media.relations@ambankgroup.com

CPI Land
Name: Nisha Menon 
Email: nisha@m-united.com.my