A Malay traditional house is pictured in Kampung Baru, Kuala Lumpur December 29, 2015. ― Picture by Yusof Mat Isa
PUTRAJAYA, April 22 — The Federal Territories Ministry said it needs between RM6 billion and RM10 billion to take over land in Kampung Baru to develop the Malay enclave.
Minister Khalid Samad explained that the ministry is looking at ways such as issuing municipal bonds, or even borrowing from banks as a means to raise funds for the complicated development of Kampung Baru that faces multiple ownership of land titles.
Khalid also explained that the people in Kampung Baru preferred to have the government, rather than developers, buy out their land.
“This is something in the process, but for the people in Kampung Baru they prefer if the government were to take over their land compared to a developer because once they take over, they can change (the terms) according to them.
“For instance, selling the property to non-Malays despite the original planning to maintain Kampung Baru as a modern Malay city. So it is better that this remains a government initiative,” he said in a press conference here today.
Federal Territories Minister Khalid Samad speaks to reporters in Putrajaya April 22, 2019. — Picture by Hari Anggara
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