KUALA LUMPUR, May 30 — The new redevelopment plan for Kampung Baru will see high-rise dwellings, which would include 70 per cent of the 83 million sq ft of floor space made of residential buildings, while the remaining space would consist of corporate towers and retail complexes, News Strait Times (NST) Property reported.

Kampung Baru Development Corp (KBDC) chief executive officer Zulkarnain Hassan told the English daily that the estimated gross development value (GDV) for the new development, based on the new master plan drafted by the Kuala Lumpur City Hall (DBKL), would be between RM50 billion to RM60 billion, which is subject to change based on market conditions and demand.

“It will all be high-rise dwellings as we want to subsidise the development in Kampung Baru. We are looking at building apartments, serviced apartments, condominiums and serviced suites to support the commercial development within and around Kampung Baru,” Zulkarnain was quoted as saying.

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He said there will no longer be landed houses in Kampung Baru, except for several “kampung” houses which would be duplicated in a public area to preserve the history of the 120-year-old settlement.

He said the DBKL hopes to present the first draft of the new master plan for the redevelopment of the settlement to all landowners by this August.

“Hopefully once they have seen the new master plan they would agree to sell their land… they have an option to get cash or a new apartment in return for their land and there is no other choice.

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“The redevelopment of Kampung Baru is for them. Depending on the size and value of their land, they could get either an apartment, serviced apartment or condominium. The development will see to it that there is a lot of public space and green areas to improve their well-being and lifestyle,” he said.

Zulkarnain further said four committees were formed by the Federal Territories ministry to come up with the new concept for the master plan, manage land matters, and to look over the social-economic issues and financing for the redevelopment project.

He said the priority for the redevelopment of Kampung Baru is to get consent from all the landowners, which the government intends to either acquire the land based on prices by the Valuation Department, or on a willing-buyer-willing-seller basis at a price set later.

“We will not develop too many areas in Kampung Baru. Too many areas mean it will be difficult to start the development. Under the old master plan, the plan was to develop every area and that would have made the development too congested,” he said referring to the Kampung Baru City Centre (KBCC) plan, which was the catalyst project planned under the Old Kampung Baru Detailed Development Masterplan by the previous Barisan Nasional government.

“We believe in open spaces and providing a lot of green spaces for the residents. The new master plan for Kampung Baru will focus on these two aspects,” he said.

Due to objections by landowners over the KBCC, which had planned to be developed over 40 acres (16.19ha) of land owned by 150 to 160 individuals, Zulkarnain said it was not guaranteed that KBCC could be carried out and thus the plan was called off.

“Out of the 90 per cent (landowners that was spoken to), not many people agreed to KBCC. About five per cent rejected the development as they wanted the land for their own use. Half of those whom we spoke to agree to the development if the right price was offered.

“Some owners were asking for more than RM2,000 per sq ft. Anything less they wouldn’t sell. But we know the land in Kampung Baru doesn’t cost that much,” he said.