THE land acquisition exercise for Sungai Baru in Kampung Baru, Kuala Lumpur should proceed, otherwise the developer of the redevelopment project will have to bear losses of over RM80mil.

Kampong Bharu Development Corporation (PKB), in a statement, said all legal requirements under the Land Acquisition Act (APT) 1960 had been met.

It said that if the project was cancelled, the developer would suffer losses of RM50mil – which was the deposit paid to the director-general of the Lands and Mines Office – as well as RM30mil on costs for transit homes and rental to residents who agreed to move out until their replacement houses were built by the developer.

It would also have to bear relocation costs for residents returning to their original homes as well as costs of repairing homes that had been left vacant for six years.

PKB highlighted its role as the facilitator for both the developer and owners to help ease the implementation of the development based on the Kampong Bharu Development Corporation Act 2011.

The statement said there had been confusion over the Kampung Baru matter and those with vested interest had made incorrect statements.

“This has caused uneasiness among the majority of landowners who are in agreement with the redevelopment,” said PKB.

PKB’s statement was issued in response to Shah Alam MP Khalid Samad’s remarks on the status of the corporation’s chairman.

Stating that the status of its chairman had no bearing on Kampung Baru’s redevelopment plan that began in 2016, PKB added that the initiative was between the landowners and developer Ritzy Gloss Sdn Bhd.

A total of 219 owners comprising 66.77% had agreed to the redevelopment while the balance 33.23% who did not agree would have their land acquired under the APT 1960.

Sources: The Star