Search Articles

Find tips, tools and how-to guides on every aspect of property

Forest City: Government not ruling out possibility of reducing foreign ownership quota


6 September, PUTRAJAYA – The government has not ruled out the possibility of reducing foreign ownership quota in the Forest City in Johor to enable more locals to buy properties in the project, said Housing and Local Government Minister Zuraida Kamaruddin.

She said one of the key issue of concern of the ministry was the Johor state government policy that allowed 70 per cent ownership by foreigners in the AS$100 billion (RM413.77 billion) project.

This is an issue which we have to study and review to make sure local participation and benefit are not been sidelined.

The direction should be going for less (foreign ownership quota), she told reporters after attending the 72nd National Council for Local Government meeting which was chaired by Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail here today.

Zuraida said she would also hold a meeting with the Johor state government and project developer this evening to find the best way to address any arising issue.

Meannwhile, she suggested all three-star hotels and above in the country to use the biodigester technology to ensure a more eco-friendly and systematic solid waste management.

The ministry will also hold discussions with local authorities to include the use of biodigester technology as one of the conditions of the licence’s approval for all three-star hotels and above, she said.

On another matter, Zuraida said the ministry was in the midst of drafting guidelines to standardise the management of night market and one-day market nationwide.


Disclaimer: The information is provided for general information only. Malaysia Sdn Bhd makes no representations or warranties in relation to the information, including but not limited to any representation or warranty as to the fitness for any particular purpose of the information to the fullest extent permitted by law. While every effort has been made to ensure that the information provided in this article is accurate, reliable, and complete as of the time of writing, the information provided in this article should not be relied upon to make any financial, investment, real estate or legal decisions. Additionally, the information should not substitute advice from a trained professional who can take into account your personal facts and circumstances, and we accept no liability if you use the information to form decisions.

More Articles