The Urban Renewal Act (URA) aims to protect property owners’ rights, ensuring fair compensation and safeguarding urban Malays and Bumiputeras. Prime Minister Datuk Seri Anwar Ibrahim clarified that the URA addresses misconceptions about prioritizing developers or displacing original homeowners.
Anwar Ibrahim Dispels Myths About Urban Renewal Act
The law emphasizes consultation and consent, guaranteeing owners renovated homes, living allowances, and benefits during redevelopment. Compensation will reflect future market value, unlike current practices.
Tunku Nashrul Abaidah highlighted the URA as a solution to long-standing struggles between people and developers. With 139 redevelopment sites identified in Kuala Lumpur, including 91 residential properties, the URA promotes social justice and dignity for urban communities.
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