S P Setia Lauds Budget 2027 Focus On Home Ownership, Johor Growth
KUALA LUMPUR, Oct 13 (Bernama) -- S P Setia Bhd welcomes the measures supporting home ownership, investment, sustainable development and the resilience of Malaysia’s construction ecosystem in Budget 2027.
The property developer also hailed the extension of the stamp duty exemption for residential properties priced up to RM750,000 until 2030, as this will broaden support for prospective homebuyers and improve accessibility to home ownership.
In a statement today, the group said it is also encouraged by the continued focus on Johor as an economic and investment corridor, including the Johor-Singapore Special Economic Zone (JS-SEZ), and improvements in regional connectivity.
"These initiatives complement S P Setia’s established presence in Johor and the group’s expansion into industrial development," it said in the statement.
President and chief executive officer Datuk Zaini Yusoff said the continued emphasis on green investment through the Green Investment Tax Allowance (GITA) aligns with its plans for Setia Fontaines Industrial Park as an upcoming green industrial park.
"Together with the momentum in Johor and the JS-SEZ, these initiatives support our broader strategy to grow S P Setia’s industrial platform alongside our core township business," he said.
On the construction sector, the group welcomed the reintroduction of the variation of price (VOP) mechanism to help the industry manage fluctuations in key inputs such as diesel and bitumen. This will provide greater certainty to contractors.
It also stressed the importance of managing construction and housing development costs to ensure quality homes remain accessible to Malaysians, with improvements in productivity, procurement efficiency and overall delivery costs to balance affordability with a sustainable property and construction ecosystem.
S P Setia also praised the government’s longer-term objective to increase affordable housing under the 13th Malaysia Plan, noting that public-private collaboration could help deliver quality, sustainable and well-connected communities.
-- BERNAMA