KUALA LUMPUR — Feb. 8, 2018: UDA Holdings Berhad is planning to develop about 1.62 million hectares of Malay reserve land nationwide following its success in developing idle land.
Towards this end, the agency has been surveying Malay reserved land with development potential in Selangor and Johor. Most is classified as agricultural land and left idle as there is no demand.
UDA Chairman Datuk Seri Dr. Mohd. Shafei Abdullah said UDA is ready to become a pioneer in the development of Malay reserve land, especially those outside of this city.
“In fact, our board has made the decision to go to all the states to identify the land that we can develop.
“Right now these areas are not as big as Kuala Lumpur but I believe they can be transformed into towns,” he told reporters after a talk on the prospects of Bumiputra property development.
Shafei also proposes that the government re-evaluates Malay reserve land so that it could increase in value.
“I’m also proposing to split the lots which have been reserved for agriculture, as an acre of agricultural land can be divided and would have many owners.
“The problem arises when there are more than one owner for one lot, as it makes it difficult for the authorities to develop the land as it would need to obtain the approval from all owners before it can be developed,” he said.
According to Shafei, the problem can be resolved by relaxing the regulations on ownership to allow the land to be developed much faster.
He also suggested for the government to allow the land to be leased to non-Bumiputras to increase marketability and attract interest from banks to provide loans.
On the development of wakaf land, UDA has identified two areas to be developed in Sabah and Sarawak.
Currently, UDA is developing wakaf land in Penang, Kedah and Perak. — Bernama