KUALA LUMPUR: The redevelopment of Kampung Baru under its detailed master plan has an estimated RM61 billion gross development value and will create 46,237 job opportunities by 2035.
Deputy Prime Minister Tan Sri Muhyiddin Yassin said that Kampung Baru will become a Malay cultural centre and Kuala Lumpur new economic enclave.
Muhyiddin said this after launching the Kampung Baru Detailed Development Master Plan (PITPKB), here.
"The government is confident that the master plan will be able to generate real estate property and transform the economy towards a balanced well being lifestyle.
"In preparing the plan, emphasis were put on the physical planning and development management aspects for the 301.38 acres of Kampung Baru land.
"Physical planning includes the improvement of infrastructure, upgrading of roads and a transit bus lane. Discussion with the Land and Public Transport Commission was also held for a MRT Line 2 station Kampung Baru," Muhyiddin said.
When asked if the government will intervene, as only 88 per cent of the land owners have agreed to the redevelopment, Muhyiddin said they will look into some of provisions of the law, as well as acquiring the lands if necessary.
"The project is 20 years long, we have to kick start the project but we will look into the contexts of the lands involved in the development.
"A series of engagement were carried out including going to the ground and discussion with the land owners. If we were to wait for everyone to agree, it will take time, so we hope at least the first phase to begin," he said.
The master plan will be carried out in three phases namely strategy 1 -combining Zone A lots, strategy 2-. Zone B comprehensive development and strategy 3 - Zone C business improvement district.
Kampung Baru will be developed for a period of 20 years, which requires an estimated cost of RM43 billion for development and in which RM30 billion will be for construction.
Present at the launch were Federal Territories minister Datuk Tengku Adnan Tengku Mansor, his deputy Datuk Loga Balan Mohan, the ministry's secretary-general Datuk Adnan Mohd Ikhsan, minister in the Prime minister's department Senator Datuk Seri Wahid Omar, Kuala Lumpur Mayor Datuk Ahmad Phesal Talib and Kampung Baru Development Corporation chairman Datuk Astaman Abdul Aziz and chief executive officer Naharuddin Abdullah, as well as corporate government linked figures.