Budget 2018: Developer welcomes housing sector allocation

PETALING JAYA: Bina Darulaman Bhd (BDB) has welcomed Prime Minister Datuk Seri Najib Tun Razak's announcement of the RM2.2bil allocation for the housing industry under Budget 2018.

In a statement on Friday, the investment holding company's group managing director Datuk Izham Yusoff said that he was pleased with the government's move to extend the financing scheme to private developers under 1Malaysia People's Housing Programme (PR1MA) and the MyHomes programme.

"BDB welcomes the RM2.2bil allocation by the Government to boost the housing sector, particularly home ownership," said Izham.

He said that the Government's efforts to extend the conditional step-up financing scheme to private sector developers under PR1MA aids selected buyers, especially those struggling to get loans for their first houses.

Izham also commended the MyHomes programme, which he said was an "incentive for developers to build more affordable homes".

He said this was in addition to RM200mil set aside for maintenance funds, stamp duty exemptions for house buyers and tax exemptions on house rentals below RM2,000.