KELANA JAYA, 27 FEB: The Datum Jelatek Project Development in Keramat by the Selangor State Development Corporation (PKNS) will boost Bumiputera property ownership to more than RM500 million.
Chief Minister Tan Sri Abdul Khalid Ibrahim said that previously, the value of ownership by the Bumiputera community in the area was just around RM20 million.
“What PKNS did was to buy it 15 times more than the original price or RM300,000.
“Therefore, Bumiputeras who own the properties already own properties which have increased 15 times in value.
“This would not be reflected if we did not make a renewal in the development,” said Abdul Khalid.
He said this when speaking at the SS 8/2 Industry Workers Residential Complex Groundbreaking Ceremony here.
Abdul Khalid said that prior to this, the development in Jelatek did not cost more than RM20,000 per unit and is 99 percent owned by the Bumiputera community.
“PKNS as a leader of the Selangor state development, desired the involvement of the Malay community in real estate development,” said Abdul Khalid.
He added that the development in Datum Jelatek has increased the Gross Development Value (GDV) to RM1 billion with 50 percent of it being owned by the Bumiputera community.
“We have increased Bumiputera property ownership to at least RM500 million. With this we are rising the Malay community’s status,” he said.