Selangor Journal

Lease renewal 15 years in advance, ensure high value

BY NAZLI IBRAHIM
SHAH ALAM, JUL 25: The lease on State Government’s land can be renewed as early as 15 years before it expires.
Dato’ Menteri Besar, Dato’ Seri Mohamed Azmin Ali said, that decision is made to ensure the land value remains high.
“The State Government allows owners to renew the lease agreement far in advance compared to Barisan Nasional who only allowed renewal one year before expiry.
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“At that, the value of the land would have dropped to the extend that it cannot be mortgaged to the bank anymore,” he said.
He said that in answering the verbal question posed by Dengkil Assemblyman, Shahrum Mohd Sharif on the second day of the Second Meeting of the Fifth Term of the 13th Selangor State Assembly session, at the Dewan Negeri Selangor building today.
He said, failure to renew the lease can cause owners to be fined and jailed.

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