KUALA LUMPUR (Oct 13): S P Setia Bhd (KL:SPSETIA) expressed support for the measures announced in Budget 2027, highlighting key initiatives aimed at home ownership, green investments and construction industry resilience
In a press statement issued on Tuesday, the property developer welcomed the extension of the stamp duty exemption for residential properties priced up to RM750,000 until 2030, noting that it will broaden support for prospective homebuyers and improve accessibility.
"We commend Budget 2027 and the government’s continued focus on home ownership, infrastructure and investment-led growth. The extension of the stamp duty exemption to homes priced up to RM750,000 is a meaningful measure to support homebuyers and residential demand," said S P Setia president and CEO Datuk Zaini Yusoff in the statement.
The group highlighted the government's focus on Johor as an economic corridor, including the Johor-Singapore Special Economic Zone (JS-SEZ) and regional connectivity improvements, which support its expansion into industrial development.
Furthermore, S P Setia welcomed the Green Investment Tax Allowance (Gita) to drive sustainable investment.
"The continued emphasis on green investment aligns with our 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," Zaini said.
From a construction perspective, the group lauded the reintroduction of the Variation of Price mechanism to help contractors manage fluctuations in key input costs such as diesel and bitumen.
S P Setia added that improving productivity, procurement efficiency, and overall delivery costs remain important to balance affordability with a sustainable property ecosystem.
The group also backed the government's long-term objective under the 13th Malaysia Plan to increase affordable housing supply through public-private collaboration.
"Overall, Budget 2027 provides a constructive foundation for the property and construction sectors, balancing support for home ownership with measures to encourage investment, sustainability and industry resilience. S P Setia looks forward to contributing to Malaysia’s next phase of sustainable economic growth," Zaini added.