Kuala Lumpur:The government has announced a plan to provide up to RM20 billion in housing financing guarantees through the Housing Credit Guarantee Scheme (SJKP) to support 80,000 first-time homebuyers, with a focus on self-employed individuals lacking fixed incomes.

According to BERNAMA News Agency, Prime Minister Datuk Seri Anwar Ibrahim outlined additional measures, including a full stamp duty exemption on loan agreements and instruments of transfer for first homes priced up to RM500,000. For homes priced up to RM750,000, a full stamp duty exemption will apply to the first RM500,000, with a 50 percent exemption on the remaining amount. These exemptions are applicable to sale and purchase agreements executed between January 1, 2027, and December 31, 2030.

Furthermore, nearly RM1 billion has been allocated for housing projects such as Rumah Mesra Rakyat and the People's Residency Programme (PRR). These include new projects in Kulai, Johor; Nilai, Negeri Sembilan; Paya Rumput, Melaka; and Pertang, Terengganu. Additionally, Bandar MADANI Bukit Jalil is set to become a residential area featuring vertical schools, with registration opening for the first phase this Monday.

The government has also agreed to provide 50 acres of strategically located land in Kuala Lumpur, valued at RM1 billion, to the Bumiputera Investment Foundation. This move aims to enhance the Bumiputera economy and ownership. Permodalan Nasional Berhad (PNB) will be tasked with developing the land, considering affordable housing needs and the interests of the Bumiputera community.

Additionally, 50 acres of land in Kuala Lumpur have been gazetted as Malay Reserve Land, with PETRONAS commencing development on the first 10 acres to offer affordable housing. Plans are also in place to develop nearly 11 acres of government land in Belfield, Kuala Lumpur, to construct at least 2,500 Rumah MADANI units, with 70 percent allocated to the Bumiputera community.