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| Pahang to review land conversions [ 11/02/2003 ] |
Pahang is taking steps to resolve the property overhang in the state by reviewing land conversion procedures.
Mentri Besar Datuk Seri Adnan Yaakob said unsold property stood at RM431mil, prompting the state government to take measures to curb the number of houses, shoplots and industrial buildings as supply exceeded demand.
''The property overhang depreciated by 4.5% compared to June last year.
''We are taking all possible measures to further depreciate this figure by studying the likelihood of giving commercial and housing developers a grace period of two years to develop the land or such approval will be automatically rescinded.
''This is one way of checking the number of unsold property and at the same time, reduce the number of buildings which is unsold,'' Adnan said after a state planning meeting yesterday.
He said measures must be taken now to stop the property glut until the East Coast Highway was completed.
''When the highway is ready, the property overhang is expected to reduce tremendously as travel time will be cut.
''The highway is only expected to be completed in July 2004 and in the meantime, the government is taking measures to ensure that the property glut is under control,'' he added.
Adnan also said that the state Land and Mines Department was preparing an extensive report on the physical development of Cameron Highlands within seven days to be reviewed by the public and non-governmental organisations.
''This report will have details on land use, land approvals, temporary occupation licences, agricultural land use and all the necessary information to give a clearer picture to the public on the development of the highlands.
''This way, people will not get confused on the status of the highlands which are projected to be in dire straits,'' he said.
''The Cameron Highlands district office has done its level best to take all the precautionary measures against unnecessary land clearing in the area,'' he said.
Source : The Star 11/2/2003 |
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