Kerjaya Prospek Property has secured an RM100 million green financing arrangement with AMMB Holdings Bhd (AmBank) to develop the Courtyard by Marriott Hotel in Bloomsvale, a mixed-use project along Old Klang Road.

Bloomsvale sits on 5.2 acres of freehold land and includes the Courtyard by Marriott Hotel, two blocks of serviced apartments, office suites, and a shopping mall. It has a gross development value (GDV) of RM1.2 billion.

The first component of Bloomsvale, a service apartment block, was launched in 2019.

GreenRE will award the project a platinum certification for its residential area and a gold rating for its commercial structures.

The Courtyard by Marriott Hotel is a collaboration between the developer and Luxury Hotels International Management, a subsidiary of Marriott International. This 4-star hotel will have a total of 276 rooms.

Datin Toh Siew Chuon, executive chairman of Kerjaya Prospek Property, said that this green loan demonstrates the company's commitment to incorporate more sustainable projects in its portfolio and to be more responsible in its development and construction.

"We are optimistic about embracing green initiatives and we will be launching more green developments in the near future," she said yesterday after signing the facility agreement with AmBank.

AmBank group chief executive officer Datuk Sulaiman Mohd Tahir said, there is increasing demand for green finance this year.

He said that AmBank has obtained around RM400 million in green finance loans in the first quarter of its fiscal year 2023 (FY2023).

Last year, the bank disbursed over RM3.7 billion in loans through green financing solutions, one of which is to push green construction.

Sulaiman said AmBank supports this green financing because this is what the group's customers expect.

"As an entity that provides loans, we want to make sure that businesses are a part of our initiatives, to reduce Co2 emissions and that there is a measure to it," he told reporters.

Sulaiman said that the bank is happy of Kerjaya Prospek Property's achievement in adopting environmentally friendly decisions for Bloomsvale.

He said that this project is in keeping with AmBank's efforts to strengthen and optimise its financing facilities in order to provide a better experience for clients as part of the group's environmental, social, and governance (ESG) sustainability drive.

"We are pleased to support Kerjaya Prospek Property in the green endeavours and we look forward to the endless possibilities that this partnership might bring in the future," added Sulaiman.