Teraju Approves RM97.67 Million Funds To Develop Malay Reserve, Native Land Nationwide

Last update: 19/05/2016

SEREMBAN, May 19 (Bernama) -- The Bumiputera Agenda Steering Unit (Teraju) has approved a fund of RM97.67 million for Bumiputera developers to build 50 mixed-development projects on Malay reserve and native land nationwide.

Its chief executive officer, Datuk Husni Salleh said the projects expected to be fully completed within three years would be worth RM1.54 billion in gross development value.

"Teraju will give incentives valued at 10 per cent of the total cost of project development to the developers through Teraju's facilitation fund.

"This is one way of motivating Bumiputera developers to develop Malay reserve and native land, apart from getting more Malays and Bumiputeras to own properties," he said.

He was speaking to reporters after the launch of the Taman Puncak Rasah housing project by Urban Wellbeing, Housing and Local Government Ministry secretary-general, Datuk Mohammad Mentek here today.

Also present was Citra Upaya Sdn Bhd managing director, Datuk Abdul Rahman Harun.

Husni said Teraju would continue to assist Bumiputera developers in their search and development of Malay reserve and native land, while at the same time increase the land value.

"With the incentives provided, it can be assured the projects will be completed and not abandoned," he said, adding that this would also translate into overall reduction of development costs which would benefit house buyers.