Selangor Hopes For Funds In Budget 2024 To Rejuvenate Old Towns

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One of the issues faced in old urban areas like PJ Old Town is that the 99-year lease period will expire in a few years, says Selangor menteri besar Amirudin Shari. (Facebook pic)SHAH ALAM: The Selangor government is requesting an injection of funds from the federal government in the upcoming Budget 2024 to help the rejuvenation process of old towns and areas in the state.
Menteri besar Amirudin Shari said the rejuvenation process is necessary to ensure that the development of such areas keeps pace with developments in surrounding new urban areas.
He said old urban areas like Petaling Jaya, Ampang, Gombak, Cheras and Pandan were developed with a development model in the 1970s and 1980s that are no longer suitable for the current needs of the population.
“However, its implementation requires financial support from the federal government, in addition to approval and permission from land owners,” he said at the Selangor-level Budget 2024 roadshow attended by deputy finance minister Steven Sim.
Amirudin said this is one of the issues the Selangor government hopes will be given due consideration in Budget 2024, in addition to infrastructure aspects, plans to address floods, and efforts to increase people’s income.
If the process of rejuvenating these old urban areas is not done, he said, their economic value and potential will decrease in the future.
Amirudin said one of the issues faced in old urban areas like PJ Old Town is that the 99-year lease period will expire in a few years.
“Some of the land is 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. That is an example of an issue that we need to address,” he said.
Sim said the finance ministry will consider all feedback and suggestions received in its Budget 2024 roadshow, including Amirudin’s proposals, “especially since Selangor is a state which has rapid growth and needs to explore new development areas”. - FMT

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