news

Kampung Baru redevelopment: RM850psf compensation offer a fair price, says Khalid

KUALA LUMPUR (Sept 23): Federal Territories Minister Khalid Abdul Samad has “defended” the price being offered as compensation to Kampung Baru landowners in the redevelopment of Kampung Baru.

The Star reported Khalid saying that the compensation offer “was significantly higher than what was previously offered for two other projects in the area”.

“For those two projects that are currently nearing completion, the owners were offered around RM400 per sq foot,” he added.

Over the weekend, it was revealed that the Malay enclave’s landowners are being offered RM850 psf. That figure was based on the highest price proposed by the Valuation and Property Services Department.

He also touched on the number of affordable housing that will be offered in the redevelopment.

“With the price the Government is offering, there will be 42,000 housing units of which 50% will be affordable homes,” Khalid said at an event in Wangsa Maju today.

He explained that any compensation price being offered must “take into consideration the future buyers and how much they would be able to afford”.

“As property in Kampung Baru can only be sold to Malays, we cannot price it too high or it will not be affordable.

“It has to be at a logical price as we are buying the land from Malays for Malays,” the FT minister added.

It was reported that former prime minister Datuk Seri Najib Razak commented that the compensation price was too low.

“About two years ago the Barisan Nasional government offered only RM300psf. I am sure the public can evaluate for themselves which is the better price,” Khalid replied to that comment.

Prime Minister Tun Dr Mahathir Mohamad wrote in his Facebook on Saturday that Putrajaya's plan to redevelop Kampung Baru will not push the Malay residents away from enclave.

“The allegation is untrue and completely baseless. The interest and position of the Malays are the basis for the move to redevelop Kampung Baru," said Dr Mahathir.

“I believe the redevelopment will not only be beneficial to landowners but also allow more Malays to live and trade in Kampung Baru,” he added.

Looking for properties to buy or rent? With >150,000 exclusive listings, including undervalued properties, from vetted Pro Agents, you can now easily find the right property on Malaysia's leading property portal EdgeProp! You can also get free past transacted data and use our proprietary Edge Reference Price tool, to make an informed purchase.
SHARE
RELATED POSTS
  1. Amanah agrees to bring PM candidate issue to Pakatan presidential council
  2. PKB to prepare report on feasibility of Kampung Baru development plan
  3. The critical challenge posed by serviced apartments