Fiabci welcomes RM69bil boost for development expenditure

International Real Estate Federation (Fiabci) Malaysia president Datuk Koe Peng Kang said said the RM69bil allocated for development expenditure under the fiscal plan is essential to boost the country’s economy

PETALING JAYA: The fiscal stimulation from Budget 2021 will take up the slack in property development activities, International Real Estate Federation (Fiabci) Malaysia president Datuk Koe Peng Kang said.

He said the RM69bil allocated for development expenditure under the fiscal plan is essential to boost the country’s economy. He also expressed hope that more jobs for engineers and create other construction-related jobs. “As for the property sector, so far, there is only the exemption of stamp duty for first-time home ownership (for units worth RM500,000 and below).