NewParadigm Capital Markets to work with SHAREDA
Focus Malaysia 22 Oct 2018 12:48
Sabah, NewParadigm Capital Markets Sdn Bhd (“NewParadigm Capital Markets”) and Sabah Housing and Real Estate Developers Association (“SHAREDA”) signed a memorandum of understanding at the opening ceremony of the SHAREDA Property Exhibition (PropEX) 2018 which was launched by Y.B. Datuk Dr. Haji Jaujan Haji Sambakong, Deputy Chief Minister of Sabah and Minister of Local Government and Housing, Sabah.
NewParadigm Capital Markets and SHAREDA will perform within the scope of their mandates to work with the State Government of Sabah to establish and implement a rent-to-own programme for the affordable housing segment in the State of Sabah.
“The objective of the rent-to-own programme is to facilitate homeownership especially in the affordable housing segment in Sabah with an independent capital market structure capable of financing the whole spectrum of the relevant commercial requirements,” SHAREDA President Chew Sang Hai said.
NewParadigm Capital Markets will develop the rent-to-own programme to promote home ownership particularly in the affordable housing segment whilst SHAREDA will implement this collaboration within the framework of the rent to-own programme, to promote and encourage the rent-to-own programme in the State of Sabah.
“NewParadigm Capital Markets attaches great importance to collaborate with SHAREDA, gaining yet another major partner in the effort to promote home ownership especially in the affordable housing segment on a national scale,” said Charanjeev Singh, Managing Director of NewParadigm Capital Markets. “Synergies with SHAREDA substantially expands the prospects of developing a feasible rent-to-own programme aimed at increasing home ownership especially in the affordable housing segment,” adds Danny Kwan, Executive Director of NewParadigm Capital Markets.