Khalid: Up to RM10bil needed to develop land

PUTRAJAYA: The Federal Territories Ministry needs between RM6bil and RM10bil if it intends to buy over the land in Kampung Baru, Kuala Lumpur, for development purposes.

Its minister, Khalid Abdul Samad, who disclosed this, said the ministry was studying the best mechanism to obtain the funds including the possibility of allowing Kuala Lumpur City Hall (DBKL) to issue city bonds or sukuk as practised in developed countries.

“There is only one problem to develop Kampung Baru; enough money to buy up all 250 acres (101ha) of land from their owners so that we can develop in an organised and integrated approach according to a masterplan,” he said at his ministry yesterday in conjunction with Pakatan Harapan’s one-year rule.

Khalid said the masterplan was important as land acquired directly by developers and later developed individually would not lead to a planned and integrated development.

He said feedback obtained found that Kampung Baru residents were generally more interested if the land was acquired by the government for development, and not by private developers.

As such, Khalid said he was putting a personal Key Performance Indicator to resolve the issue of Kampung Baru development this term and hoped that it would receive the cooperation and agreement of residents in the area.

“If we allow Kampung Baru to become an unkempt area, it could mar the view of a Malay village in the eyes of tourists,” he said.