Affordable housing developers in Kuala Lumpur will receive incentives to encourage homeownership in the city. These incentives include reduced development fees and increased density for their projects. Prime Minister Datuk Seri Datuk Seri Anwar Ibrahim’s aide, Datuk Azman Abidin, announced that vacant land in the capital has been designated for development as part of the Perumahan Madani initiative, which targets the B40 and M40 segments. Developers participating in affordable housing projects will also be allowed a higher plot ratio, permitting them to build up to 1,400 units per acre.
Azman Abidin made these remarks during a press conference at Kuala Lumpur City Hall (DBKL) headquarters to announce the gazettement of the Kuala Lumpur Structure Plan 2040 (KLSP2040). In addition to the affordable housing projects, the plan has identified several idle sites that will be converted into commercial and industrial zones. Additionally, several rundown areas in Kuala Lumpur have been earmarked for redevelopment and rejuvenation.
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