PUTRAJAYA has made a new offer to Kg Baru folk, adding RM150 per square foot in the form of equity to the previously offered RM850 psf for their land.

The government is seeking to buy the land to develop the Malay reserve enclave, the last in Kuala Lumpur.

Federal Territories Minister Khalid Abdul Samad, announcing the new deal today, said the extra RM150 psf in equity will be in the special purpose vehicle to be formed for the development.

“The equity means landowners will continue to have ownership of the development,” he told a press conference at the Kuala Lumpur City Hall headquarters.

Landowners who buy properties in the new development will get a 15% discount, he added.

Khalid said a higher offer was made to the 825 lot owners in Kampung Baru after two meetings with Prime Minister Dr Mahathir Mohamad.

“This will be our best and last offer to the landowners in Kampung Baru,” said Khalid.

Khalid said the other terms offered to landowners at a September 21 town hall meeting remained.

The choices open to the landowners are cash for their lots, completed housing units in the new development, and a combination of cash and housing units and dividends from the Special Purpose Vehicle.

He urged landowners to submit their feedback forms to the Kampung Bharu Development Corporation by November 30.

Kampung Baru, adjacent to the Petronas Twin towers, is spread over 89ha of premium land in the heart of the capital. – October 24, 2019.