Govt To Provide 50 Acres Of KL Land Worth RM1 Bln For Bumiputera Agenda

KUALA LUMPUR, Oct 9 (Bernama) -- The government will provide 50 acres of strategically located land in Kuala Lumpur, valued at RM1 billion, as a new endowment to the Bumiputera Investment Foundation, Prime Minister Datuk Seri Anwar Ibrahim said.

Anwar said the endowment reflected the government's commitment and responsibility to strengthen Bumiputera economic participation and asset ownership.

The government's first endowment to the foundation was made in 1978, amounting to RM200 million, but no further endowments had been provided since 1981, he said.

Anwar, who is also finance minister, said the new endowment would enable Permodalan Nasional Bhd (PNB) to develop the land, taking into account the need for affordable housing and the interests of the Bumiputera community.

The government had also agreed to develop nearly 11 acres of government-owned land in Belfield, Kuala Lumpur, to build at least 2,500 MADANI housing units, with 70 per cent reserved for Bumiputera buyers, he said.

"We have also agreed that nearly 11 acres of government land in Belfield, Kuala Lumpur, be developed to build at least 2,500 MADANI housing units, with 70 per cent allocated to Bumiputera," Anwar said when tabling the 2027 Budget in Parliament on Friday.

In addition, the government had gazetted 50 acres of land in Kuala Lumpur as Malay reserve land, a move Anwar said had not been undertaken by previous administrations.

"Petroliam Nasional Bhd (Petronas) has begun developing the first 10 acres to provide affordable housing," he added.

-- BERNAMA