Khazanah to restore heritage sites, DBKL funds housing and markets

SHAH ALAM – The government has announced major restoration and urban renewal projects worth more than RM1 billion to revive Kuala Lumpur’s heritage and improve public housing.

Finance Minister Datuk Seri Anwar Ibrahim, when tabling Budget 2026, said Khazanah Nasional Berhad will invest RM600 million to restore Carcosa Seri Negara, the Kuala Lumpur Railway Station, Dayabumi Complex, Stadium Merdeka, and Stadium Negara.

"Carcosa Seri Negara symbolises our dignity and sovereignty. These buildings are witnesses to our nation’s journey, from the lowering of the Union Jack to Malaysia’s rise as an independent nation. Preserving them means preserving our identity," he said.

At the same time, Kuala Lumpur City Hall (DBKL) will allocate RM500 million from its internal funds to upgrade public housing (PPR) facilities, including repairing faulty lifts, rewiring old buildings, and improving roads and amenities.

Of this, RM200 million will be used to rebuild old hawker centers, markets, and food courts, while RM300 million goes toward PPR maintenance.

Anwar, who recently visited Pantai Dalam, said lift repair works in public housing must begin immediately and be completed before year-end.

"I recently visited Pantai Dalam and saw the condition of public housing firsthand. I have directed DBKL to begin lift repair works immediately and complete all necessary upgrades by the end of this year," he added.

The government has also set aside RM60 million to build and repair public markets nationwide and RM50 million through Mara to upgrade 363 business premises, benefiting over 7,000 entrepreneurs.