Kuala Lumpur City Hall (DBKL) hopes to present the first draft of the new master plan for the redevelopment of Kampung Baru (Kg Baru) to all land owners by August this year, says Kampung Baru Development Corp (KBDC) chief executive officer, Zulkurnain Hassan.

“Hopefully once they have seen the new master plan they would agree to sell their land. As I have mentioned, they have an option to get cash or a new apartment in return for their land and there is no other choice.

“The redevelopment of Kg Baru is for them. Depending on the size and value of their land, they could get either an apartment, serviced apartment or condominium. The development will see to it that there is a lot of public space and green area to improve their well-being and lifestyle,” he said.

‘LAND PRICE BELOW RM800 PSF’

According to market consultants, the price for land fronting the main road — Jalan Raja Abdullah and Jalan Raja Muda Abdul Aziz — is around RM650 per sq ft (psf), currently.

“Depending on where the land is located in Jalan Raja Abdullah and Jalan Raja Muda Abdul Aziz, and the type of land, whether it is flat and undeveloped, or is very strategically located, the price can go up to RM800 psf but it shouldn’t be more than that.

“The price will also be lower in the inner parts of Kg Baru, like those less developed areas with small roads. It should be nothing more than RM500 psf,” a consultant told NST Property.

The consultant said land in Kg Baru cannot be on par with that of other parts of Kuala Lumpur’s Golden Triangle.

“The Golden Triangle is the CBD (central business district) of Kuala Lumpur… That is where you have many luxury apartments that sell at more than RM2,000 psf, five-star hotels and up-market shopping malls. There are many iconic structures in the CDB such as Petronas Twin Towers and KL Tower. Kg Baru is a far cry from the Golden Triangle,” he said.

FOUR COMMITTTEES HAVE BEEN FORMED

Zulkurnian said the Federal Territories Ministry has formed four committees to come up with a new concept for the master plan, handle land matters, and overlook social-economic issues and financing for the redevelopment of Kg Baru.

The master plan committee is headed by DBKL and it is coming up with a new concept and business model for Kg Baru, he said.

“The second committee is in charge of land matters. It is the one engaging with all the land owners in Kg Baru, having discussions and meetings to get them to agree to sell off their land to make way for the redevelopment.

“The third and fourth committee are in charge of financing and social economic matters. All four committees have presented their respective issues. We are not sure when the master plan will be ready but the first presentation to the land owners is expected this August,” he said.

The government intends to either acquire the land from owners based on prices by the Valuation Department, or on a willing-buyer-willing-seller basis at a price to be determined later.

Zulkurnain said the priority for the development of Kg Baru is to get consent from all the land owners.

“We will not develop too many areas in Kg Baru. Too many areas mean it will be difficult to start the development. Under the old master plan, the plan was to develop every area and that would have made the development too congested.

“We believe in open spaces and providing a lot of green areas for the residents. The new master plan for Kg Baru will focus on these two aspects,” said Zulkurnain.

Federal Territories Minister Khalid Samad has said the whole plan is to develop Kg Baru in a well-organised and integrated manner and according to a comprehensive plan.

“We will have more details on what the land owners want following the presentation in August. Based on their feedback, it would be easier for us to work on the next step,” said Zulkurnain.

News Source: New Straits Times, 30 May 2019