Govt offers RM850per square foot for Kg Baru land

KUALA LUMPUR: The government has offered to buy land in Kampung Baru here at RM850 per square foot as compensation to landowners and heirs in return for the redevelopment of the area, says Federal Territories Minister Khalid Samad.

“Apart from the value of the land, whatever structures or buildings on the land will also be valued for compensation,” he said during a townhall session attended by about 3,000 Kampung Baru landowners and heirs here yesterday.

The government had previously announced that the redevelopment of Kampung Baru would include residential buildings including high-rise dwellings as well as corporate towers and retail complexes.

Khalid said landowners could choose from four types of offers from the government: cash; a completed apartment or condominium unit (to be constructed as part of the redevelopment); a combination of cash and a completed unit; and shares in a company which will serve as a Special Purpose Vehicle in connection with the redevelopment project.

“The sale and purchase offers will be based on land lots,” he said, explaining that the government had stressed there would be no compromise towards the preservation of Malay property ownership in Kampung Baru.

Khalid added that the redevelopment of Kampung Baru was seen as a conduit to expand property ownership among the Malays.

Meanwhile, Prime Minister Tun Dr Mahathir Mohamad said allegations that development in Kampung Baru will push the Malays out of the federal capital are not true.

He said the interest and position of the Malays would be the thrust to any development effort in Kampung Baru as provided under the Kampung Baru Development Corporation Act.

“The Act itself states that the interest of Malays in terms of social, economic, heritage, cultural and historical values would be given priority in every development implemented,” he said. — Bernama