Construction and consumer players stand to gain the most from the policies announced in Budget 2024 on Friday, say analysts.

The Penang government or Penang Development Corp (PDC) should cancel the land deal with Sunway Bhd’s 70%-owned subsidiary Umech Land Sdn Bhd, as more questions and queries are coming to the fore on the transaction, former Penang deputy chief minister II Professor Dr P Ramasamy Palanisamy said.

A total of RM2.8 billion has been allocated for the maintenance of roads and bridges, including an allocation of RM300 million for contractors from G1 to G4 categories.

Varied views from a number of stakeholders in the property segment

In the newly announced Budget 2024 Madani, themed "Madani Economy: Empowering the People" the government has allocated a total of RM393.8 billion, reflecting a slight increase from the previous budget of RM388.1 billion set in February 2023.

The Master Builders Association Malaysia (MBAM) acknowledges the government's efforts in reforming the Malaysian economy while empowering the rakyat in Budget 2024 that was tabled on Friday.

The government is developing a rooftop solar buyback programme and will extend the current net energy metering (NEM) programme to Dec 31, 2024, in a bid to incentivise rooftop solar installation, said Prime Minister Datuk Seri Anwar Ibrahim.

OSK Property and Employees Provident Fund (EPF) have officially launched the second phase of Melbourne Square called BLVD apartment on Thursday in Southbank of Melbourne, Australia.

Propel Global Bhd is to purchase two parcels of land in Kuala Kuantan, Pahang for RM14.7 million to undertake a commercial development project with a gross development value (GDV) of RM68 million.

HIL Industries Bhd has proposed to acquire a company that owns land near the Shah Alam-Klang border that has been earmarked for residential development, in a related party transaction.