KUALA LUMPUR, Sept 17 — The Kampong Bharu Development Corporation (PKB) today said the developer’s joint-venture package for the Kampung Sungai Baru redevelopment includes replacement homes of 969 or 1,200 square feet, a consent payment, as well as moving and relocation costs.
PKB — the federal agency overseeing Kampong Bharu’s redevelopment — added that the deal also covered cash top-ups for terrace-lot owners where the new unit’s value is lower, ex-gratia payments for renovations, and temporary rent or transit housing during the redevelopment period.
“The Government has no vested interest in this project,” it said in a statement published on Facebook.
“This project is a private initiative involving cooperation between terrace lot owners and flat units of PKNS Sungai Baru with the developer.
“The Sungai Baru Property Owners’ Welfare Association (Persatuan Kebajikan Pemilik Hartanah Kampung Sungai Baru) independently secured a developer without the involvement of any external parties,” PKB added.
PKB said that land acquisition for Kampung Sungai Baru was gazetted on June 21, 2021 through Federal Government Gazette No. 9412 under Section 8 of the Land Acquisition Act 1960.
It said that 66.77 per cent of owners had initially consented to the project in 2020, rising to 71.95 per cent after further negotiations before the land acquisition was gazetted in June 2021.
It added that compensation was assessed under the Act’s First Schedule, with flat owners each offered one replacement home valued at between RM884,000 and RM1 million.
Terrace lot owners, meanwhile, were allocated between three and nine units with a combined value of RM2.7 million to RM8.1 million, along with cash top-ups if the new homes were valued lower than their existing properties.
“Compensation amounts were set by the Federal Territory Land and Mines Office based on the First Schedule of the Land Acquisition Act 1960,” it said, adding that valuations from the Valuation and Property Services Department, the Ministry of Finance and private valuers appointed by owners were also taken into account before a final figure was decided.
Titles have been transferred to the developer. PKB said the eight flat blocks were registered by court order on December 11, 2023, while terrace lots were transferred on March 27, 2024.
“Owners no longer had rights over the property once compensation was paid and Form K (Notice of Ownership Acquisition) was issued,” it said.
On objections, PKB recorded 75 filings — 13 terrace owners and 62 flat owners — referred to the High Court via Form N “Redevelopment can proceed without waiting for the court decision”.
“Construction is expected to begin in the first quarter of 2026,” PKB said.
“By late 2029, owners who consented to the joint venture will receive their replacement homes,” it added.
