GEORGE TOWN: To keep the residential population of the heritage enclave here alive, the Penang government is ready with a fund to help property owners restore their old shophouses – but there is a catch.Heritage shophouse owners can get RM100,000 or more if they agree to sign long-term leases with residents at attractive rents.
“By long-term, we mean six to 10 years – long enough for residents to raise their families,” said George Town World Heritage Inc (GTWHI) general manager Dr Ang Ming Chee.Dr Ang said the George Town Heritage Habitat Seed Fund was launched last May with an initial RM3mil, adding: “We have had two successful fund recipients and four more are in the works.”