KUALA LUMPUR: Further studies on the development strategy of 50 acres (20.23 hectares) of Malay reserve land in Bandar Malaysia are underway, said the Ministry of Finance (MoF).
This is to ensure alignment with the government's aspirations to establish it as an International Business Hub, according to the ministry in a written answer in Parliament yesterday.
The MoF responded to an enquiry from Onn Abu Bakar (PH-Batu Pahat) regarding the development plan for 50 acres of Sungai Besi 'airport' land, which has been designated as a Malay reserve.
Key principles considered for the 50-acre site include clustered settlements around key facilities and integrated development consistent with MADANI Malaysia's inclusiveness concept, it said.
The government also aims to develop the area into a tourist attraction that showcases Malay culture and promotes economic empowerment by providing property ownership opportunities for Malays within the city.
The Bandar Malaysia project, located on the former Kuala Lumpur Air Base site in Sungai Besi, is projected to have a gross development value of RM140 billion.