Affordable housing programmes positive and helpful: Rehda

PETALING JAYA: The Real Estate and Housing Developers' Association Malaysia (Rehda) lauded Budget 2016's focus on affordable housing, saying it is a people friendly budget.
Rehda president Datuk Seri FD Iskandar Mohamed Mansor said the 10 programmes outlined in the proposed budget tabled in Parliament today will encourage the people to own properties.
"Rehda views the budget as positive and helpful for home ownership in the nation especially for the low and middle income group," Iskandar said in a statement.
The programmes include allocating RM200 million to finance deposits for first time house buyers, which he said will help home owners overcome the deposit obstacle.
Iskandar also gave a thumbs-up for the RM500 million "Promotion Fund" provided to developers and contractors to encourage adoption of Industrialised Building System (IBS) in Malaysia.
"This will help accelerate project delivery, reduce development cost, and reduce dependency on foreign workers," he said.
Iskandar said stamp duty exemption on financing instruments for contractors rescuing abandoned projects and original purchasers will also encourage more developers to assist in rehabilitating developments in limbo.
Lastly, he said Rehda is keen to engage and assist the government to promote the affordable housing agenda.