PETALING JAYA (Sept 28): Mah Sing Group Bhd lauded the 12th Malaysia Plan (12MP) tabled on Monday, which outlines a five-year development road map to revitalise the economy post Covid-19 pandemic.

Mah Sing founder and group managing director Tan Sri Leong Hoy Kum in a statement said: “We view the 12th Malaysia Plan positively as it emphasises social welfare and protection of Malaysians as well as strengthens economic growth. This creates a conducive environment for the rakyat and local businesses to build a strong foundation for the next five years as the nation works towards ensuring sustainable and inclusive economic development for all Malaysians. 

“For the property industry, the private sector can also echo the government’s initiative to offer more affordable homes for the B40 (bottom 40% income group) and M40 (middle 40%), and play our party to provide affordable homes in strategic locations and with innovative layouts, which is appealing to the mass market,” he added in the statement.

In the 12MP, the government aims to provide quality, affordable housing for Malaysians, especially the B40 and M40, with another 500,000 units of affordable homes to be built during the duration of the 12MP, as well as enhance financing facilities, such as the Fund for Affordable Housing, Youth Housing Scheme and Rent-to-Own Programme, to relieve the burden of instalment payments among the B40 and M40.

Meanwhile, Mah Sing announced that it will be extending its “Mah Sing NOW” campaign until Dec 31, 2021 due to the reopening of more economic sectors under the National Recovery Plan and strong interest displayed in the group’s projects. The campaign offers a three-pronged homeownership booster for selected units of participating projects in the Klang Valley, Johor and Penang.

“The high vaccination rates and the opening of sales galleries have provided a much-needed impetus to the property industry as we see clear interest in our projects and observe a significant increase in footfall in our sales galleries,” said Leong.

He also hopes for more incentives for the property industry in the upcoming Budget announcement. “We hope the government will provide additional catalysts to the industry and incentives for homebuyers by introducing more property-friendly measures in the upcoming Budget 2022.

“We also hope that the country’s borders will open up soon, with suitable guidelines to enable cross-border economic activities to resume, emulating other countries which have successfully reopened to foreigners. This will increase the competitiveness of our country among the region and regain foreigners’ interest in our properties again, contributing to the revitalisation of the overall economy,” he added.