PM: Foreigners with RM600,000 homes will not get citizenship

Future forward: Dr Mahathir being briefed by Lembaga Pembangunan Langkawi’s Geopark Division manager Azmil Munif Mohd Bokhari (right)during the Langkawi Development Talk at the Kompleks LADA. — Bernama

LANGKAWI: Prime Minister Tun Dr Mahathir Mohamad said the decision to lower the threshold on high rise property prices in urban areas for foreign ownership from RM1mil to RM600,000 was meant to reduce supply overhang of condominiums and apartments.

The decision does not mean that foreigners who bought the property would be given Malaysian citizenship, he said.