Government Purchases 618 Shophouses To Boost Bumiputera Property Ownership

Last update: 12/12/2013KUALA LUMPUR, Dec 12 (Bernama) -- The government has purchased 618 units of shophouses nationwide in order to increase Bumiputera property ownership, said Minister in the Prime Minister's Department Senator Datuk Seri Abdul Wahid Omar.

He said the purchase by Majlis Amanah Rakyat (MARA) and the Perbadanan Usahawan Nasional Berhad (PUNB) for a total sum of RM280 million started from 2008 to November 2013.

"Of the total, 489 of the shophouses Mara purchased involved over RM144 million and 129 shophouses bought by PUNB involved more than RMM136 million," he said in reply to a question by Senator Datuk Seri Mohd Ali Mohd Rustam, at the Dewan Negara here.

Mohd Ali questioned the total number of shophouses bought until now following only five percent ownership of shophouses nationwide.

In addition, the Pelaburan Hartanah Berhad (PHB) was established in 2006 to invest in high-value commercial properties.

Until last September, PHB invested RM3.79 billion to purchase buildings and in property development in Kuala Lumpur, Putrajaya and Selangor.

Abdul Wahid said the increase in Bumiputera property holdings was not only based on purchasing Bumiputera quota shophouses but also in the construction of specific business premises in strategic locations for rent or sale among Bumiputeras.