KUALA LUMPUR (Feb 26): Armani Group and Bank Islam Malaysia Bhd (KL:BIMB) have signed a memorandum of understanding (MOU) on Feb 25 to offer homebuyers of Armani's developments end-financing, starting with the Residensi Armani Kg Baru 1 project in Kuala Lumpur.

Armani group managing director Datuk Seri Azlan Azmi said in a statement: “Our partnership with Bank Islam offers one of the most competitive home financing solutions in the market, featuring rates as low as 3.8% per annum for our homebuyers.”

He added that homebuyers financing their purchase through Bank Islam would benefit from greater financial flexibility and ease of homeownership.

Residensi Armani Kg Baru 1 is a freehold residential development with a gross development value of RM240 million. The project comprises 387 units with built-ups of up to 900 sq ft, priced from RM424,800.

Bank Islam group chief business officer of retail banking Mizan Masram said: “This strategic partnership with Armani Group represents a significant step in expanding access to affordable housing. Bank Islam remains dedicated to providing comprehensive, customer-centric financing solutions that not only make homeownership more accessible but also cover renovation and furnishing costs, helping homebuyers turn their dream homes into reality.”