GXS

Government Grants Grace Period to Struggling Housing Projects While GXS Bank Revolutionizes Loan Market for Gig Workers

Exclusive: Govt extends lifeline to housing projects; GXS Bank makes waves with FlexiLoan for gig workers!

In a surprising move, the government has decided to grant a grace period to 44 struggling housing projects facing Additional Buyer's Stamp Duty (ABSD) challenges. This decision comes as a relief to developers and homeowners, providing them with the opportunity to stabilize and recover. On the other hand, GXS Bank has disrupted the loan market by disbursing over 100,000 loans within the first year of its innovative FlexiLoan product. This breakthrough offering is specifically designed to cater to gig workers and underserved segments in the economy, providing them with the financial support they need.

The grace period provided by the government showcases a proactive approach to supporting the real estate sector during challenging times. By offering this leeway, the government aims to prevent further setbacks and promote stability in the housing market. Simultaneously, GXS Bank's remarkable achievement of exceeding 100,000 loans in a year highlights the significant demand and success of their FlexiLoan product among gig workers and individuals with unique financial needs.

In the realm of housing development, the grace period granted by the government marks a crucial step towards ensuring the sustainability of housing projects and the well-being of stakeholders involved. This strategic move reflects a commitment to fostering growth and resilience within the property market. Conversely, GXS Bank's rapid expansion and impact on the loan landscape signify a shift towards more inclusive financial services, catering to the evolving needs of non-traditional workers and marginalized groups.