Budget 2024: Selangor hopes for old town rejuvenation fund injection
21 Sep 2023 02:19pm
Amirudin
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Menteri Besar Datuk Seri Amirudin Shari said the rejuvenation process was necessary to ensure that the development of the area could be combined with the pace of development in the surrounding new urban area.
He said the old urban areas such as Petaling Jaya, Ampang, Gombak, Cheras and Pandan which were developed with a development model in the 70s and 80s that no longer suitable for the current needs of the population.
"However, its implementation involves a large policy and requires financial support from the federal government, in addition to approval and permission from the land owners,” he said at the Selangor-level Budget 2024 Roadshow which was attended by Deputy Finance Minister II Steven Sim Chee Keong here today.
Amirudin said the matter is one of the issues that the Selangor government hopes to be given due consideration during the tabling of the Budget 2024 on Oct 13, in addition to infrastructure aspects, plans to address floods and efforts to increase people’s income.
He said that if the process of rejuvenating these old urban areas is not done, the economic value and potential in the area will decrease in the future.
Apart from that, he said one of the issues faced in old urban areas such as PJ Old Town is that the 99-year lease period will expire in a few years.
"Some of these lands are worth more than RM1 million per lot and in terms of the current economic activity, the traders may not be able to pay for it and that is an example of an issue that we need to address,” he said.
Meanwhile, Sim said Selangor was the last location for the engagement session of the Budget 2024 Roadshow which until now has interacted face-to-face with approximately 8,000 participants and received a total of 10,000 responses through the Budget 2024 portal.
"We will look at all the feedback and suggestions received, including what was proposed by the Selangor Menteri Besar earlier, especially since Selangor is a state which has rapid growth and needs to explore new development areas,” he said. -BERNAMA
