EcoWorld: Budget 2021 addresses myriad issues caused by Covid-19 pandemic

PETALING JAYA (Nov 6): Property developer Eco World Development Group (EcoWorld) said Budget 2021, which was announced today, is a well-thought-out budget which recognises the myriad challenges we are facing due to the profound changes in almost every aspect of life caused by the Covid-19 pandemic.

“The government’s intent for this to be an expansionary budget which prioritises public health, protects lives and livelihoods, ensures business continuity as well as strengthens the economy is also evidenced in the sheer size of the total expenditure of RM322.5 billion which is very appropriate for the times.

"Social safety nets have been put in place to protect the most vulnerable and large allocations have been made for infrastructural investments to bridge the rural-urban divide and improve the nation’s transportation networks,” said EcoWorld president and CEO Datuk Chang Khim Wah in a press statement today.

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He adds that the budget offers a clear way forward for us as a nation in the specificity of the measures which cover just about every sector of the economy.

On the real estate front, the proposal to fully exempt stamp duty on instruments of transfer and loan agreements for first-time homebuyers purchasing properties priced up to RM500,000 until Dec 31, 2025 is very welcomed, said Chang.

“It will certainly benefit many of our young purchasers, particularly those buying their first homes under our duduk series as well as various other products such as Co-Homes that we will be launching specifically to meet the homeownership needs of the M40 customer group,” he said.

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