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Lagenda Properties Signs Collaboration Agreement with Koperasi Veteran Daulat Kedah (KVDK) Berhad

Public listed affordable township developer Lagenda Properties Berhad has signed a collaboration agreement with the Koperasi Veteran Daulat Kedah (KVDK) Berhad. Under the agreement, Lagenda offers customized financial plans for army personnel in need, wherein assistance would be provided to aspiring homeowners to restructure their finances for higher loan eligibility.

There have been various recent developments and attention drawn towards housing for army personnel. Prime Minister Ismail Sabri Yaakob said recently that the construction of army housing across Malaysia is necessary for personnel of the Malaysian Armed Forces (MAF), whilst Senior Defence Minister Datuk Seri Hishammuddin Hussein, stated that the agendas of the Budget 2022 and the 12th Malaysia Plan (12MP) consisted of enhancing efforts on the welfare of military personnel and veterans.

 Encouragingly, the Ministry of Federal Territories announced that over 20,000 units of the 40,000  the “Residensi Prihatin” scheme was set aside seeks to help the Malaysian Armed Forces officers and personnel to acquire their own homes and improve their standard of living.

 “These efforts are to be applauded as the focus on the welfare and housing for the army personnel is a crucial national agenda. However, there are still a large number of military personnel who face the plight of housing, especially outside of the Klang Valley.

                                 Dato Jimmy Doh, Managing Director, Lagenda Properties 

 “The housing dilemma is a very real issue amongst military personnel as many are priced out of the market. Many in fact, are not able to own their own homes even in their twilight years, which is very disheartening. This is where we are compelled as a group to go beyond the norm to address this particular segment to ensure everyone can afford a home,” said Dato’ Jimmy Doh, Managing Director of Lagenda Properties.

 “Many KVDK members are either serving army veterans or retirees who have yet to own homes. This is due to affordability issues, as they simply cannot afford housing priced above RM200,000, with their B40 salaries averaging at RM2,000 per month. Moreover, they often live in cramped conditions, with five to seven family members of multiple generations under one roof,” said Asomuddin Ahmad, Chairman of KVDK.

 “Tentera personnel tend to have multiple ongoing loans, which hinders their chances at homeownership. Here, they would be advised on how to restructure and better manage their debts,” added Asomuddin Ahmad.

This service, which often determines the homeowner’s success at purchasing the property, is provided on a complimentary basis by experienced Lagenda advisors. Often this becomes the deciding factor that aids the conclusion of the purchase, whilst increasing the financial literacy of the army personnel.

To further aid the community, Lagenda will extend a RM1,000 discount for every house purchased by KVDK members. This is further savings in addition to the general sales package that encompasses free legal fees, free stamp duty for the memorandum of transfer and cash rebates applicable only to public servants. Sums saved also helps purchasers to channel funds towards better equipping their home with appliances and furniture.

“Currently, we are extending savings and finalising details with other koperasi organisations across the country to expedite the homeownership agenda. We believe every Malaysian deserves a home and those who serve our country certainly deserve to have their basic needs addressed,” added Dato’ Jimmy.

For more information on Lagenda Properties, please visit their website or their Facebook page.

About Lagenda Properties

LAGENDA PROPERTIES BERHAD (“Lagenda”) is a property developer listed on the Main Market of Bursa Malaysia. We started our journey in affordable housing development in early 2018 focusing on our main core expertise of developing self-sustaining townships, prioritising community-based facilities & public amenities that meet the needs of most Malaysian home buyers that fall under the B40 and the M40 income groups. Our goal is to build economical & affordable homes while our long-term objective is to become a sustainable developer in Malaysia.

About Koperasi Veteran Daulat Kedah (KVDK) Berhad

KVDK is a cooperative whose membership comprises of veterans of the Tentera Diraja Malaysia. Its aim is to improve the socio-economy welfare of its members who do not receive pensions from the Malaysian Armed Forces (MAF) / Angakatan Tentera Malaysia (ATM).

The benefits of activities carried out are also intended to benefit associate members and heirs of members as well as society in general. In addition, the cooperative’s economic development activities aim to provide financial assistance in the form of living allowance and business capital for members.

KVDK is registered under the Association of Non-Pensioned Former Armed Forces Members Malaysia

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