FT Ministry seeks up to RM10b to buy over Kampung Baru land
A Malay traditional house is pictured in Kampung Baru, Kuala Lumpur December 29, 2015. ― Picture by Yusof Mat Isa
Minister Khalid Samad explained that the ministry is looking at ways such as issuing municipal bonds, or even borrowing from banks as a means to raise funds for the complicated development of Kampung Baru that faces multiple ownership of land titles. “This is something in the process, but for the people in Kampung Baru they prefer if the government were to take over their land compared to a developer because once they take over, they can change according to them.
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