KUALA LUMPUR, Feb. 21 -- The full development of Bandar Malaysia, now under Petronas' KLCC Holdings, is expected to take around 50 years to complete, the Finance Ministry said yesterday.
The ministry also said that the development will include 10,000 units of affordable housing, open spaces, and recreational areas, while also preserving 50 acres as Malay Reserve Land.
"The development of Bandar Malaysia will be carried out in a controlled manner to ensure its commercial viability while considering supply and demand dynamics in the property market.
"Based on the size of the land, the whole development is expected to take around 50 years," the ministry stated in a written Parliamentary reply to Bukit Bintang MP Fong Kui Lun.
The long-term...