He and his wife paid RM180K for a 43,000 sq ft of land. This works out to RM4.186/sf. NST states that the current market value of the 43,000 sq ft property is about RM1.3 million based on the lower end of the going rate for land in the area of between RM30 and RM40.
You can actually buy prime Selangor land at very cheap prices!
As low as 0.014sen per square feet.
Really! This is what the Sun reported on 14 AUg 2004
With a stroke of a pen, and perhaps a bit of influence peddling, the land ended up in the possession of a company owned and controlled by a former state assemblyman and a current Petaling Jaya Municipal Council (MPPJ) member and his family.Kesian Zakaria... bayar harga "tinggi" pun terbogkar. The world's not fair, yah?
The Selangor government alienated the land to Mentari Properties Sdn Bhd for a song -- RM2,000. Throw in the extras -- quit rent and documentation and for a grand total of RM3,750, the area measuring 6.114 acres or RM613.35 per acre to be exact, changed hands.
The market price, we have been reliably told is anything between RM50 to RM70 per sq ft or between RM2,178,000 and RM3,049,200 per acre.
You can read the full report here
More "oppotunities"? Read here, dated 26Feb05.
Truly, truly, the Malaysian Dream.
btw, SEMUA [not just the Melayu, DrM] mudah lupa. Uncle Kit is reminding the government (and us) that they owe us an explanation on the EPU methodology. Quite interesting. Read it here.