KUALA LUMPUR, June 4 — Not a single square inch of land in the redevelopment of the Kampung Baru Malay settlement in the city will be sold to non-Malays, said Federal Territories and Urban Wellbeing Minister Raja Datuk Nong Chik Raja Zainal Abidin.
“As I had explained, the 60:40 ratio for property ownership in the area was only a proposal by the government and did not mean the existing land there would be sold to non-Malays or foreign investors based on that ratio,” he said in a statement today.
He said this ratio would only be used if the area was redeveloped with skyscrapers conditional upon the consent of landowners in Kampung Baru.
He added that not a single landowner there would be sidelined in the redevelopment of Kampung Baru and that when they gained ownership of the new properties, they would have the liberty to sell or enter into equity ownership of their properties.
“We have also not taken a decision whether the new properties will be sold, rented or leased out to non-Malays or foreign companies.
“The ratio proposal was actually aimed at ensuring that the redevelopment of Kampung Baru could be participated by foreign giants, specifically for hotels, hypermarkets, banks and the like,” he said.
He said if the landowners did not agree with the proposed ratio, the government was willing to discuss the matter further so that a win-win situation could be reached for all parties. — Bernama