KUALA LUMPUR: The proposed Kampung Baru redevelopment based on a 60:40 ratio of Malay and non-Malay participation, cannot be finalised without acceptance from land owners said Federal Territories and Urban Wellbeing Minister, Datuk Raja Nong Chik Raja Zainal Abidin.
The government would hear feedback and views of land owners before making any decision said Raja Nong Chik.
"Kampung Baru land owners need not worry. What we had put forward to them on Saturday (May 29) is just the beginning and we want to listen to feedback from land owners themselves," he said in a statement Monday, May 31.
A meeting was held between the government, landowners and beneficiaries of Kampung Baru at the Putra World Trade Centre (PWTC) on May 29, with regard to a proposed development in the area.
Raja Nong Chik said the interests of the Malays in Kampung Baru here will not be jeopardised even if non-Malays are given a 40% quota to own property in the area when the Kampung Baru Development Project is implemented later.
"This is to allow maximisation of the development potential of Kampung Baru... and when we say non-Malays, it is not limited to non-Malay Malaysians but also interested foreign investors.
"This will maximise returns to land owners who can also invest in the development," he said.
The size of Kampung Baru is 307.344 acres and based on the valuation done on 136 acres in March 2007, land there was valued at between RM270 and RM300 per sq ft for housing and from RM500 to RM600 per sq ft for commercial lots. -- Bernama
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