Business News: Review All Privatisation Deals To Make Sure The People Benefit

The Johor state government must review all the existing privatisation and agreements with investors to ensure that Johoreans will benefit from the development projects, especially in the Iskandar Malaysia and Pengerang areas, the Sultan of Johore said at the opening of the state assembly on Thursday.

Sultan Ibrahim ibni Almarhum Sultan Iskandar said that although Johor attracted a lot of domestic and foreign investors, the locals faced hardship due to escalating cost of living and increases in property prices which had taken homes beyond the reach of many Johoreans.

At the same time, he asked for property developers to be more reasonable and not just focus on making profits by setting high property prices that were aimed at attracting only foreign buyers.

“They must not be too greedy and should play their part by building affordable residential properties for locals,” he said, adding that state government should also identify proper housing scheme for squatters in order to move them out form occupying on state land.

By: ZAZALI MUSA and YEE XIANG YUN

Source: The Star Publication

Published: Thursday, August 15, 2013

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