Federal Territories Minister Khalid Abdul Samad said no moratorium will be imposed on new property projects in Kuala Lumpur, but the size of such projects will be monitored by limiting the plot ratio according to the Kuala Lumpur City Plan 2020 (KLCP 2020), reported Bernama.

Under KLCP 2020, the plot ratio for city development is set at 1:10. Khalid noted that this requirement is applicable to all types of development, including residential and commercial.

He acknowledged that the lower plot ratio may not be favourable for some developers given that fewer office units could be built on the same plot of land, affecting profitability of the project.

“The plot ratio cap is to help regulate the number of high-rise projects. We still welcome the people to come (invest), but we have to limit (build) the office units as regulated,” he said at the International Conference on Greater Kuala Lumpur and Putrajaya on Monday (25 February).

“If the parcels they have bought are granted a plot ratio at above 10 in the approval in principle, we will take a look at it and consider on a special basis, because they were promised…But if they want to take that business risk, that is up to them.”

He revealed that there is an exemption for certain projects but with conditions.

Earlier in the month, it was reported that property projects that were granted approval in principle but with higher plot ratio than that allowed under the KLCP 2020 would be required to obtain fresh approval from the Kuala Lumpur City Hall (DBKL).

DBKL City Planning Department Director Nurazizi Mokhta said the requirement is applicable to all types of development within the capital city.


Image source from Malay Mail


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