Malaysia Property News is a free resource website sharing Daily Property News & information about Property in Malaysia, which related to, Property Market, Property Investment, Commercial Property , Hot Properties Malaysia, Real Estate, Retail Shop, Business Park, Condominium Malaysia, Terraces & Apartment Malaysia, Houses, Residence, Resort and many more.

Thursday, October 6, 2011

No undue delay in Kg Baru redevelopment


Legal restraint: Under the restricted Malay title, land and properties in Kampung Baru can only be sold, occupied and rented by Malays.

PETALING JAYA: The redevelopment of Kampung Baru will not be unduly delayed by the re-tabling of the amended Kampung Baru Development Corporation Bill, said Senator Datuk Abdul Rahim Rahman.

The new amended Bill was tabled, debated and passed at the Dewan Rakyat sitting yesterday.

With the Bill passed, it would then be gazetted and by the first quarter of next year, Kampung Baru Corp (KBC) would be set up.

Abdul Rahim said the redevelopment of Kampung Baru would be done in phases and progressively, taking into consideration the prevailing market conditions.

Under the restricted Malay title of the land and properties in Kampung Baru, land can only be sold, occupied and rented by Malays. It is this restriction which has made Kampung Baru hard to develop as the market is restricted.

“Due diligence and studies will be done because the components of the development are important.

“We have to think of the heritage factor to make it a tourist attraction. It is such factors, together with the greening of the city, that will enhance the liveability and sustainability of Kuala Lumpur,” said Abdul Rahim, who is also executive chairman of Rahim & Co group of companies.

The amended Bill was a result of consultation and negotiation with all parties, which included the Malay Agriculture Settlement authority, landowners and non-government organisations.

Abdul Rahim said the setting up of the corporation was necessary to spearhead development. PAS has asked for a board of trustees.

“There is a difference between the role of trustees and a corporation. The KBC can spearhead, raise funds, put in certain regulations and lead in the redevelopment of Kampung Baru.

“There will be as little land acquisition as possible so that Kampung Baru can be developed based on consultation with all interested and related parties,” he said.

The redevelopment of the 110-year-old site has experienced several false starts for many years as it involves much sentiment and legal issues.

The Government is spearheading it now as it would like to develop the 126.73ha located in the city centre in tandem with the growth and development of the city.

According to Bernama, the Government has approved four government-linked companies with bumiputra interest, namely Permodalan Nasional Bhd, Lembaga Tabung Haji, Perbadanan Putrajaya and Permodalan Hartanah Bhd to ensure bumiputra interests were protected.

“We are not letting the private sector take over the land of the Malays in Kampung Baru except with their consent. If there is no corporation, how are we going to help them to develop their own land,” Minister of Federal Territories and Urban Wellbeing Datuk Raja Nong Chik Raja Zainal Abidin said at parliament yesterday.

By The Star

No comments: