PETALING JAYA: Public Bank and Gamuda Land have signed a memorandum of understanding to offer end-financing for the latter’s residential and commercial properties from green and sustainable developments.

Public Bank has created a special sustainable financing package for projects by Gamuda Land for projects that have sustainability recognition from Green Building Index, GreenRE and other accreditation bodies.

The financing package also features fast lane approval and financing option for customers to purchase eco-friendly and energy-efficient appliances, fixtures and fittings.

Public Bank managing director and CEO Tan Sri Dr Tay Ah Lek said it is committed to achieving carbon neutrality by 2030 and net-zero by 2050.

“The group is also committed to mobilise RM40 billion in ESG-friendly financing by 2025, including the financing of green-certified buildings,” Tay said during the signing ceremony.

“With a strong market share of 20.5% and 34.0% respectively in residential and non-residential properties financing in Malaysia as of March 2022, Public Bank is thus well positioned to play its role in collaboration with Gamuda Land to drive the sustainability agenda of the property sector,” added Tay.

Gamuda Land CEO Ngan Chee Meng said its Gamuda Green Plan commits the group to specific steps to reduce direct and indirect greenhouse gas emission intensity by 30% in 2025 and 45% by 2030.

“Moving forward, all of Gamuda Land’s development locally and internationally will be green building certified,” said Ngan.