KUALA LUMPUR, May 29 (Bernama) -- The interests of the Malays in Kampung Baru here will not be jeopardised even if non-Malays are given a 40 per cent quota to own property in the area when the Kampung Baru Development Project is implemented later, said Federal Territories and Urban Wellbeing Minister Datuk Raja Nong Chik Raja Zainal Abidin.
He said this was because the Federal Territories Land Working Committee and Kampung Baru Development Corporation which will be established under acts of Parliament would serve as mechanisms to protect Malay ownership of property in the area.
"This will 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.
"If we continue to restrict development of the area to only Malays, I don't think we will be able to get value of RM4,000 or RM1,000 (per square feet) as is desired by the landowners and beneficiaries," he told reporters after holding a meeting on developing Kampung Baru with landowners and beneficiaries of the Malay settlement in the city, at the Putra World Trade Centre here Saturday.
Based on the proposed lifting of restrictions to develop the prime land, non-Malays will be eligible to own business and housing properties which will be built, on a ratio of 60:40.
Raja Nong Chik said, the Cabinet at its meeting earlier this month, had agreed in principle to the proposal.
