Kampung Baru's Real Estate Assessment To Be Completed By May
Date：2015/03/17
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KUALA LUMPUR -- The Kampung Baru Development Corporation is carrying out a comprehensive assessment of land and buildings in Kampung Baru with a consortium of six real estate valuers.
Its chief executive officer, Naharuddin Abdullah said the assessment, which is expected to be completed by April or May, is aimed at resolving disputes over the real estate value raised by their owners.
"We've set up a consortium to enable landowners to know the current market value of real estate in Kampung Baru," he told Bernama in an interview recently.
The Kampung Baru Detailed Development Master Plan focuses on the physical and management aspects of the development of a 121.9-hectare site.
The four-phase development costing RM62.1 billion starts this year and is expected to be completed by 2035.
The first phase of the redevelopment project, involving the construction of 16 mega projects worth RM1 billion, has taken off the ground.
Naharuddin said that the majority of Kampung Baru landowners had given their approval for the redevelopment the area.
"We'll take into account the changes that needed to be made during the implementation period, while continuing to engage with landowners," he said.
The 124.37-hectare Kampung Baru was founded 113 years ago.