IJM Land partners RHB for SWITCH scheme

Chong (left) and RHB Head of Secured Assets Anuar Amin bin Ayob at the signing ceremony of SWITCH scheme.

Chong (left) and RHB Head of Secured Assets Anuar Amin bin Ayob at the signing ceremony of SWITCH scheme.

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KUALA LUMPUR (July 21): IJM Land Bhd has formed a partnership with RHB Bank Bhd to bring forth its SWITCH scheme, a buy-back scheme for homebuyers and homeowners.

The scheme allows homeowners to return their property to the developer due to involuntary unemployment during the coverage period, which is from the date of the sale and purchase agreement (SPA) and up to a 12-month period from the date of the certificate of completion and compliance (CCC).

In a press statement on Thursday (July 21), IJM Corporation Bhd Chief Financial Officer Datuk Edward Chong noted that this partnership will make homeownership for Malaysians more accessible.

“IJM Land has always been devoted to the aspiration of Malaysians who yearn to own a place called home. We are working diligently toward ensuring that their dreams will become a reality, and together with RHB as our partner, this entails the creation of value-added packages, one-of-a-kind campaigns, benefits and incentives that will make home ownership easier and less burdensome for all,” he said. 

To kick start the scheme, IJM will carry out pilot projects on two of its developments, namely Savvy, Riana Dutamas KL and Duta Perintis Apartments, Bandar Alam Suria. 

Savvy is a freehold serviced residence with built-ups ranging from 722 sq ft to 1,232 sq ft. The development is located near Kuala Lumpur city and is close to public amenities, with a selling price starting from RM 540,000. It is expected to be completed by 2024.

On the other hand, Duta Perintis Apartments is a low-density apartment with a built-up size of 850 sq ft, comprising three bedrooms, two bathrooms and two carpark bays. The indicative selling price starts from RM310,000. 

RHB Managing Director of Group Community Banking Jeffrey Ng Eow Oo was pleased with the partnership. “We are proud to be working closely with established property development partners such as IJM Land, to enable customers to buy the home of their dreams. SWITCH helps address some key challenges faced by aspiring new homeowners, including the possibility of involuntary unemployment. This allows them to step confidently ahead towards owning their own homes,” he commented. 

In addition to the scheme, IJM recently launched its annual homeownership campaign, Living Masterpiece, which will run from July 1 to Dec 31 this year. The campaign aims to assist home seekers through customisable easy ownership schemes, great savings and incentives ranging from free loan legal fees, free stamp duty on memorandum of transfer (MOT), and free furnishing packages.

Racheal Lee