1MDB Can Only Build Affordable Houses On Air Itam Land – Chief Minister

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GEORGE TOWN, Nov 4 – 1Malaysia Development Bhd (1MDB) can only build affordable houses on the 94 hectares of land it purchased in Air Itam in Penang, said Chief Minister Lim Guan Eng. He said 1MDB’s initial plan announced after purchasing the land was to build 9,999 units of low-cost and affordable houses.

“I’m warning 1MDB that we will not allow them to build anything other than affordable homes,” he told reporters after attending the Penang Development Corporation’s Deepavali Open house here today. He added that 1MDB would also not be allowed to evict tenants on the land without proper compensation. However, Lim said to date, 1MDB has not applied for planning approval for any project on the land.

He was responding to a a news report last month which has stated that apart from building the low-cost and affordable houses, 1MDB also intended to use the remaining parcel of land for other development purposes from which it expected to generate significant value for the land it bought here. 1MDB purchased the land for RM1.38 billion and has promises to build 9,999 units of affordable houses.

Meanwhile, Lim’s political secretary Wong Hon Wai. who was also present, reiterated that the state government did not invest or had any share in the Wet World Wild (WWW) Adventure Park in Batu Ferringhi. He said the project was under a private initiative and that the state government only played its role as facilitator for the company to set up the park.

WWW Adventure Park was closed down last month, just 10 months after it opened due to strong waves during the super-moon phase early last month which caused some of the park’s structures and equipment to be washed ashore and buried under the sand at Batu Ferringhi beach.

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