KUALA LUMPUR (April 16): UOA Development Bhd (KL:UOADEV) has entered into a memorandum of understanding (MOU) with Alliance Bank Malaysia Bhd (KL:ABMB) to launch the Alliance Green Properties Financing initiative for its new Duo Tower Grade-A office project in Bangsar South, Kuala Lumpur.

According to a press release on Wednesday, Duo Tower is the first commercial development to secure this green financing offering from Alliance Bank. The scheme is designed to support green-certified property ownership by providing preferential financing rates for green-certified buildings. The initiative is part of a broader effort to encourage environmentally conscious real estate development.

Duo Tower is under construction and comprises two strata office towers — the 34-storey Tower A and the 38-storey Tower B. Tower A will comprise 239 units of flexible strata offices spread across 24 floors, offering built-ups ranging from 1,389 to 3,025 sq ft. A bigger floor plate of up to 20,000 sq ft is also available. Tower B will be owned by UOA Group. The project has a gross development value of RM1.3 billion, and is expected to be completed in 2027.

This collaboration, the statement said, supports Alliance Bank’s Acceler8 growth strategy, which aims to increase its presence in the property financing market segment. The bank’s green property financing solutions also extend to residential projects with environmental, social and governance (ESG) certifications and energy-efficient features. This collaboration also covers community sustainability initiatives, including rainwater harvesting systems, green spaces, and affordable housing schemes.