A TRUST fund may be set up by the Federal Territories Ministry to facilitate the transfer of Kampung Baru land compensation monies to the rightful people who have to make way for redevelopment.
Federal Territories Minister Khalid Abdul Samad said one of the main hindrance to the redevelopment of the over a century-old Malay village was the inability to trace the owner or next-of-kin of the plots of land.
The trust fund would help to get around this problem and enable a more holistic vision of development in the area.
“The monies could be kept in the trust fund for safekeeping until the owner or next-of-kin is identified," Khalid said.
“At present, the redevelopment model is for a few adjacent lot owners to sell their lands to a developer to be developed.
I find this to be disorganised as there would be maximum utilisation of build-up area, which would make this area dense and congested.
“We are looking at the possibility of having one developer or a conglomerate to buy over all lots in the 121ha land and redevelop it as a whole. Only then can we focus on a vision for this place,” he said to Kampung Baru residents representative during his first visit to Kampung Baru Development Corporation at Rumah Rohas in the village on July 27.
Khalid said he needed time to understand the situation and look for a business model that was workable and would also fulfil the aspirations of the Malay people, who want the Malay identity of the village to be preserved.
“I will speak to Prime Minister Tun Dr Mahathir Mohamad about his vision for Kampung Baru. I will also look at the current master plan and get feedback from the land owners and next-of-kin before making a decision,” he said.
He also said that the compensation would be based on the current market value of the land and hoped that the owners and their heirs would cooperate and strike a win-win deal.
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