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PRIME MINISTER Datuk Seri Anwar Ibrahim has emphasised that the proposed Urban Renewal Bill (RUU PSB) is designed to protect the rights of original property owners, particularly Malays and Bumiputeras, in any urban redevelopment projects.
The Prime Minister's Senior Press Secretary, Tunku Nashrul Abaidah, refuted claims that the implementation of this law would lead to the loss of rights for original property owners.
“On the contrary, the primary principle of the RUU PSB is to ensure that any urban renewal project is carried out with consultation and agreement from the property owners before proceeding,” he stated during a daily briefing at the Prime Minister’s Office on Wednesday.
Tunku Nashrul explained that once agreement is reached, the property owners will have their renewed properties returned to them, in addition to receiving compensation, living allowances, and various other benefits throughout the construction period and after the project is completed.
He clarified that the renewed properties would be returned to the original owners so that they could return to live in their redeveloped homes.
Moreover, he pointed out that compensation would be based on the projected future market value, ensuring that property owners would be able to regain ownership of their homes.
"This situation contrasts with the current system, where compensation is determined based on the current market value, making it difficult for owners to purchase new properties, especially when the prices are higher," he said.
Tunku Nashrul also assured that the RUU PSB would guarantee a wide range of compensation and benefits for the owners, including payments for temporary housing rentals, ex-gratia payments for the renovation of existing properties, and living allowances during the construction phase.
He strongly dismissed the notion that the bill would result in the displacement of Malays and Bumiputeras from urban areas.
In fact, he argued, the RUU PSB aims to protect property owners’ rights by ensuring they receive fairer compensation and can maintain their dignity while remaining part of the urban fabric.
“The RUU PSB is a solution to the long-standing disputes between the people and developers. It is drafted to ensure social justice, in line with the MADANI concept that prioritises the well-being of the rakyat (people),” he added. - March 19, 2025
