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Mah Sing hopes DIBS will be considered in next national Budget

KUALA LUMPUR (Nov 6): While Mah Sing Group Bhd commends the government for encouraging homeownership through several initiatives announced in Budget 2021, it hopes that Developer Interest Bearing Scheme (DIBS) would be considered in the future.  

Mah Sing founder and group managing director Tan Sri Leong Hoy Kum commented that overall, Budget 2021 would help to alleviate the people’s burden in owning their homes, which indirectly stimulates the property market, such as full stamp duty exemption on the instruments of transfer and loan agreement for the purchase of first residential properties worth up to RM500,000, starting from Jan 1, 2021 until Dec 31, 2025.

Read other Budget 2021 news on EdgeProp.my/Budget2021

However, he believes more incentive could be introduced to further stimulate the property market.

“While the implementation of DIBS was not announced in Budget 2021, we hope the government will again reconsider them in the future. Mah Sing is open and ready to discuss with the government on the matter with other relevant stakeholders and will look forward to a win-win outcome which will benefit all parties,” Leong said in a press statement.

Meanwhile, Leong also applauds the government for allocating RM15 billion in 2021 for the transport infrastructure projects such as Lebuhraya Pan Borneo, Gemas-Johor Bahru Electrified Double-Track Project (EDTP), Klang Valley Double Tracking Phase 1 (KVDT1), Johor Bahru-Singapore Rapid Transit System (RTS) and Mass Rapid Transit Line 3 (MRT3) in the Klang Valley, which would indirectly benefit many sectors including the property industry.

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