The new Kampung Baru (Kg Baru) redevelopment plan will boast high-rise dwellings, with 70 percent of the 83 million sq ft space set aside for residential use and the rest to corporate towers and retail complexes.
“It will all be high-rise dwellings as we want to subsidise the development in Kg Baru. We are looking at building apartments, serviced apartments, condominiums and serviced suites to support the commercial development within and around Kg Baru,” said Kampung Baru Development Corp (KBDC) CEO Zulkurnain Hassan, reported New Straits Times.
Under the new master plan being drafted by Kuala Lumpur City Hall (DBKL), the new development will have a gross development value (GDV) of about RM50 billion to RM60 billion. But the figure is still subject to change depending on market conditions and demand, he said.
Zulkurnain noted that Kg Baru will no longer have landed homes, except for a number of “kampung” houses that would be duplicated within a public area to preserve the 120-year-old settlement’s history.
The new plan will also exclude Kampung Bharu City Centre (KBCC), which was the catalyst project in the old Kampung Baru Detailed Development Masterplan.
“The government at that time wanted to prioritise some areas in Kg Baru, especially around the main mosque, thus it came up with KBCC. But KBCC didn’t take off due to objections from the land owners,” he revealed.
KBCC was set to be developed over 40 acres (16.19ha) of land that was owned by about 150 to 160 individuals.
“Out of the 90 percent, not many people agreed to KBCC. About five percent rejected the development as they wanted the land for their own use. Half of those whom we spoke to agreed to the development if the right price was offered. Some owners were asking for more than RM2,000 per sq ft (psf). Anything less they wouldn’t sell. But we do know the land in Kg Baru doesn’t cost that much,” said Zulkurnain.
“So, looking at this situation, we could not guarantee that KBCC will be carried out and this is why we have decided to call off the plan.”
Image source from The Star Online