The proposal to redevelop Kampung Baru to ‘Taman Warisan Melayu’ (Malay Heritage Park) which has been stagnant for a while now may finally be moving forward. Previously offered RM850 per sf in whichever form of payment method the owners wished for, the government has now proposed an increased price of RM1,000 per sf.
According to Federal Territories Minister Khalid Abdul Samad, the RM850 will still be paid to the owners in their chosen method, while the remaining RM150 will be in the form of a stake in the Special Purpose Vehicle (SPV).
In fact, for the RM850 per sf, the owners will have a choice of being paid in cash, in the form of a brand new completed unit, a combination of cash and completed unit, or to be paid entirely in the form of shares in the Special Purpose Vehicle (SPV).
The vision for ‘Taman Warisan Melayu’ (Malay Heritage Park) is to redevelop Kampung Baru while preserving 11 of the traditional homes, and building 45,000 houses inclusive of affordable units to attract more Malays to live in the city centre.
The redevelopment of Kampung Baru is expected to begin in June 2020, if the landowners accept this new proposal.
On a side note, the year 2019 also saw the Urban Housing Programme introduced by Kuala Lumpur City Hall (DBKL) giving the opportunity to young singles from the B40 low-income group who work in the capital to rent a room from as low as RM100 a month.
The program was designed to help these individuals age between 18 and 35 to rent a place in the city at an affordable rate. Initiated by former Kuala Lumpur mayor Datuk Seri Mhd Amin Nordin Abd Aziz in 2017, the program was finally realised in 2019 by the present mayor Datuk Nor Hisham Ahmad Dahlan.
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(2 January 2020)
