Gov't offers to buy Kg Baru land at RM850 psf

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Gov't offers to buy Kg Baru land at RM850 psf
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This is compensation to landowners and heirs in return for the redevelopment of the area.

The government today offered to buy land in Kampung Baru in Kuala Lumpur at a rate of RM850 per square foot , as compensation to landowners and heirs, in return for redevelopment of the area.

He added that the need to maintain exclusive property ownership among the Malays was also taken into account. The government had previously announced that the redevelopment of Kampung Baru would include residential buildings including high-rise dwellings, as well as corporate towers and retail complexes.Khalid said landowners could choose from four types of offers from the government comprising cash, a completed apartment or condominium unit , a combination of cash and a completed unit, and shares in a company which will serve as a Special Purpose Vehicle in connection with the redevelopment project.

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