In order to get positive response from land owners on the RM61 billion Kampung Baru Detailed Development Master Plan (PITPKB), Perbadanan Pembangunan Kampung Baru (PPKB) must come up with an official land value.
UDA Holdings Bhd chairman, Datuk Johari Abdul Ghani, said PPKB must at least come up with a guideline price besides developing the PITPKB.
“If there is a guideline price, developers can make calculations and this would make it easier for the land owners to accept the masterplan,” he told reporters after Deputy Prime Minister Tan Sri Muhyiddin Yassin launched the PITPKB recently.
Meanwhile, another stumbling block in getting land owners’ approval was that valuers have set the land value too low at RM300 per sq ft and the preferable range was between RM800 and RM1,000 per sq ft.
“The land value would depend on its size, location and type of development on the land,” he said.
Johari said PPKB has held five meetings with 2,388 land owners with 88 per cent of them agreeing with the official land evaluation.
“The 20-year redevelopment of Kampung Baru, which is expected to be completed in 2035, can accommodate 77,000 people with 17,500 residential units.
“It would be done in four phases involving RM43 billion whereby the most significant cost would be building construction of RM30 billion,” he said.
Johari said UDA was waiting for commencement of work approval from Kuala Lumpur City Hall (DBKL) on its RM400 million mixed property development “Legasi Residen Kampung Baru”.
“We received the approval in December but the development order required us to build a phasor measurement unit (PMU).
“This is difficult as the land is only 1.15 hectares while the PMU would take up at least 1.42 ha. We will discuss with Tenaga Nasional Bhd to solve the matter before proceeding with piling works,” he said.
Farah Wahida, Editor of PropertyGuru, wrote this story. To contact her about this or other stories email farahwahida@propertyguru.com.my
