KUALA LUMPUR (Aug 27): Bank Pembangunan Malaysia Bhd (BPMB) has provided RM111 million in financing to Beaks Development Sdn Bhd to support the construction of a housing development project located in Bandar Tun Razak, Kuala Lumpur.

According to a press statement issued on Wednesday, the project will include 500 affordable homes under the Perumahan Penjawat Awam Malaysia (PPAM) scheme for civil servants, with the remaining 500 units offered on the open market. The funding was channelled via Beaks Development’s subsidiary Rimbun Purnama Sdn Bhd.

“Our civil servants are the backbone of the nation, and ensuring they have access to affordable, quality housing is vital to their wellbeing and productivity. By supporting Rimbun Purnama in this project, BPMB is proud to play a role in giving more families a place to truly call home. This is what impact capital is about for us; financing that doesn’t just fund projects, but builds communities, supports livelihoods, and creates a stronger future for Malaysia,” said BPMB group head of corporate banking and advisory Wee Yee Tat in the statement.

The project is situated in a mature township with existing access to healthcare, education, sports and transport infrastructure.

The construction phase is expected to generate more than 500 jobs and support over 100 permanent roles post-completion.

“We are honoured to partner with BPMB in bringing this project to life. By combining affordability with sustainable development, we are not only delivering homes but also building communities where families can thrive,” said Rimbun Purnama managing director Datuk Benny Lee Kong Wai.