MM2H generates RM8.85bil gains in less than 2 years

 Deputy minister says China had the most number of applicants between Oct 1, 2024 and Aug 31 this year with 3,847, followed by Taiwan, Hong Kong, Singapore and the US.

Deputy tourism, arts and culture minister Chiew Choon Man said RM5 billion in property purchases and RM3.82 billion in fixed deposits had been realised under the Malaysia My Second Home programme from Oct 1, 2024 to Aug 31, 2026.

KUALA LUMPUR:

The Malaysia My Second Home (MM2H) programme generated RM8.85 billion in economic value between Oct 1, 2024 and Aug 31 this year, including more than RM5 billion in property purchases and RM3.82 billion in fixed deposits.

Deputy tourism, arts and culture minister Chiew Choon Man said the programme received 7,650 new applications during the period across the Platinum, Gold, Silver, and Special Economic Zone categories.

“MM2H has shown immense potential in expanding Malaysia’s foreign direct investment. The programme has successfully brought in billions of ringgit into the country in a short period of time and has benefitted many sectors of our economy,” he said in a statement today.

Chiew said China led the applications with 3,847, followed by Taiwan (1,054), Hong Kong (324), Singapore (287) and the US (284).

To further expand the programme’s reach to key target markets such as Hong Kong, Japan and South Korea, he said, the MM2H one-stop centre will organise overseas sales missions to these regions. - FMT