A signing ceremony between Al Rajhi Bank Malaysia and Naza TTDI Sdn Bhd was held today to officialise the additional facility of RM100 million to Naza TTDI.
Datuk Azrulnizam Abdul Aziz, CEO of Al Rajhi Bank Malaysia and Encik SM Faliq SM Nasimuddin, Deputy Executive Chairman/ Group Managing Director of Naza TTDI represented their respective organisations at the ceremony.
The facility shall be utilised as a general working capital for projects currently being undertaken by Naza TTDI. This include the development of its KL Metropolis project situated in Jalan Duta, spanning 75 acres with total GDV of RM20 billion to be developed over a 15 year period. KL Metropolis will be positioned as an international trade and exhibition district, where a hub for retail and commercial activities as well as residences will be created to complement the country’s largest exhibition space, Malaysia International Trade and Exhibition Centre that is expected to take shape in 2016.
“Naza TTDI is an established name in the country and we are indeed pleased to continue to support them in the development of KL Metropolis. We foresee that it will become an iconic development in Kuala Lumpur once completed”, Datuk Azrul said. Naza TTDI has previously utilised a facility from Al Rajhi Bank for another development project.
Naza TTDI is also involved in other major significant development project around Kuala Lumpur including Platinum Pak near KLCC. “Our relationship with Al Rajhi Bank started many years ago and we are happy to continue banking with the biggest Islamic bank in the world which offers fully shariah compliant banking products. That we believe is in line with our strategies and vision”, said En SM Faliq at the ceremony.
Al Rajhi Bank although known for its retail offering, also offers the full suite of products including corporate banking, treasury as well as investment banking. It has a total of 24 branches all over Malaysia with a flagship affluent branch located in BSC in Bangsar, Kuala Lumpur.