GEORGE TOWN, June 8 – The Penang State Government is set to review and potentially broaden the scope of its recently announced 5% property discount policy, initially targeted at Indian Muslim first-time homebuyers.
Chief Minister YAB Chow Kon Yeow confirmed that the decision was prompted by public feedback urging for a more inclusive approach to stimulate the sale of unsold (overhang) residential properties across the state. In response, Chow has directed the State Housing and Environment EXCO, YB Dato’ Seri S. Sundarajoo, to re-evaluate the policy in consultation with private developers.
The aim is to extend the voluntary discount to all eligible homebuyers, aligning with the principles of social justice and ensuring that the benefits reach a broader segment of the population. The revised proposal will be presented at the upcoming State Executive Council (MMK) meeting for thorough deliberation.
Chow reaffirmed the state government’s commitment to equity and responsible housing development, stating that any final decision will prioritise the well-being of all Penangites while addressing the challenges of property overhang in a balanced and sustainable manner.
