Apply to convert to freehold status, Lim Guan Eng tells landowners
It happened in Penang :
The residential leasehold landowners in the Pearl of the Orient, Penang were told that they can begin applying to the state government to convert the government land into freehold by Chief Minister Lim Guan Eng. He said the state was studying a new land policy, which would allow the 30-year, 60-year or 99-year leasehold land be converted into freehold land on a case-by-case basis. He further added, “We are also looking into allowing the tenure of leasehold industrial land owned by the state government to be extended from 60 years to 99 years.Those given the approval must, of course, pay the land premium,†he said. He elaborated that the state government has to make sure first that this policy is in compliance with the National Land Code.
Source : http://www.thestar.com.my/news/story.asp?file=/2008/5/25/nation/21359664&sec=nation
