KUALA LUMPUR (Dec 22): Kuala Lumpur City Hall (DBKL) is offering a 50% discount in development fee until May 31 next year, Federal Territories Minister Tan Sri Annuar Musa announced yesterday.
Developers in the city can apply for the discount and Annuar revealed that up 36 projects that applied for it had been approved “with a gross development value amounting to RM35.9 billion”, reported The Star yesterday.
This comes up to RM137 million in development fee discount.
The FT minister said that such an initiative is meant to “spur economic growth in the city and in turn, encourage job creation”.
"The ministry, via DBKL, has also agreed to expedite the approval process for issuing development orders and building and engineering plans.
"This move is hoped to reduce the cost for developers which often have to go through bureaucracy and red tape when obtaining approvals," Annuar added.
According to the same report by the daily, Annuar also said that his ministry is “mulling an additional 15% rebate on the discount given for developers that hired young graduates”.
Get the latest news @ www.EdgeProp.my
Subscribe to our Telegram channel for the latest stories and updates
TOP PICKS BY EDGEPROP
Seri Mutiara Apartments, Bandar Baru Seri Alam