The Urban Renewal Act (URA) has become one of the most contentious pieces of draft legislation in recent years. Designed to accelerate the redevelopment of ageing or under-utilised urban land, the Bill has prompted intense debate about property rights, constitutional protections and socio-economic effects.
While much of the discussion has centred on Malaysian property owners, foreign residents, especially Malaysia My Second Home (MM2H) visa holders who own property, also need to understand how the URA might affect them.
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