Penang CM orders expansion of property discount policy to all buyers

Penang Chief Minister Chow Kon Yeow has instructed the housing and environment exco to broaden the scope of a recently announced property discount initiative, following public calls for a more inclusive approach.

Acknowledging the state government had received various feedback on the announcement, Chow said the policy should be refined to ensure it benefits all segments of society, in line with the principles of social justice.

“I have instructed the housing and environment exco to engage with property developers and review the policy with a view to extending the discount to all homebuyers,” Chow said in a statement today.

Chow added that the matter would be brought before the state executive council for further deliberation, with a final decision to be made in the interest of all stakeholders.

On June 5, Penang state executive councillor for housing and environment S Sundarajoo announced that the state would grant a special five percent discount to Indian Muslims for residential and commercial properties under the MOC.

This initiative, introduced under the Madani Inclusive Property Sector Catalyst Policy, will run from June 1, 2025, to May 31, 2026, with the stated goal of boosting property sales.

However, the move sparked a wave of feedback, including from Penang DAP, suggesting that such incentives should be extended to all prospective buyers in order to stimulate the sluggish property market more effectively. - Mkini