1 hour ago
6
ADVERTISE HERE
KUCHING: The proposed Sibu Special Economic Zone, improved regional connectivity and infrastructure investments are expected to strengthen Sarawak’s long-term growth prospects and create opportunities for its property market.
Knight Frank Malaysia Group’s Managing Director, Keith Ooi said Budget 2027 provided a constructive platform for the real estate sector, with its emphasis on investment facilitation, connectivity, housing accessibility and urban liveability.
He said the proposed Sibu Special Economic Zone, alongside strategic road infrastructure, enhanced regional connectivity through AirBorneo and a record RM16.2-billion federal allocations for Sarawak, reinforced the state’s long-term growth trajectory.
“Budget 2027 sends a positive signal for Malaysia’s real estate sector, with a strong emphasis on connectivity, investment facilitation, housing accessibility and urban liveability,” he said in a media statement following the Budget 2027 announcement on Friday (Oct. 9).
Ooi said dedicated investment centres and economic zones could help attract international investment and talent, while supporting Malaysia’s efforts to sustain foreign direct investment (FDI) momentum beyond 2026.
He added that continued investment in industrial and high-technology parks across the country would support Malaysia’s positioning as a regional hub for manufacturing and high-tech industries.
For Sarawak, the proposed Sibu Special Economic Zone presents an opportunity to support economic activity and strengthen the state’s investment appeal, alongside improvements in transport infrastructure and connectivity.
Ooi also highlighted the importance of ensuring that infrastructure spending translates into tangible economic outcomes.
“Infrastructure investments must translate into better connectivity, stronger investor confidence, and sustainable economic activity on the ground,” he said.
He said timely and coordinated implementation would be crucial to ensuring that Budget 2027 initiatives attracted private investment and delivered lasting benefits to businesses and communities.
Beyond investment and infrastructure, Ooi said the Budget also addressed housing accessibility through measures to support first-time homebuyers, expand affordable housing supply, and revive abandoned housing projects.
The government has proposed guarantees of up to RM20 billion through Syarikat Jaminan Kredit Perumahan (SJKP) to support 80,000 first-time homebuyers, particularly those who are self-employed.
The proposed measures also include full stamp duty exemption for first homes priced up to RM500,000 and partial relief for homes priced up to RM750,000.
Both stamp duty measures are proposed to take effect from 2027 to 2030.
Ooi said the exemptions for rescue developers and original purchasers involved in abandoned housing projects are also welcome, as the government aimed to achieve zero abandoned housing projects by 2030.
He said such measures could help stimulate the residential property market while improving access to home ownership.
On urban development, Ooi welcomed allocations for green spaces, heritage conservation and pedestrian connectivity, noting their role in improving city liveability and supporting urban regeneration.
He said investments in infrastructure, housing and urban amenities would need to be accompanied by effective implementation to ensure the property sector could benefit from the measures.
“Overall, Budget 2027 provides a constructive platform for the property market. The next step is to ensure timely and coordinated implementation so that these initiatives can crowd in private investment and deliver lasting value to businesses and communities,” he said.
Knight Frank Malaysia will continue to monitor the rollout of the measures and assess their impact on the property market in the coming year.
English (US) ·