Kuala Lumpur:The government has announced the allocation of 50 acres of prime land in Kuala Lumpur, valued at RM1 billion, to the Bumiputera Investment Foundation as a new endowment. Prime Minister Datuk Seri Anwar Ibrahim highlighted this move as part of the government's efforts to enhance Bumiputera economic participation and asset ownership.

According to BERNAMA News Agency, Anwar stated that this endowment demonstrates the government's commitment and responsibility towards the Bumiputera community. The previous endowment to the foundation was made in 1978, worth RM200 million, with no additional contributions since 1981.

Anwar, who also serves as the finance minister, mentioned that Permodalan Nasional Bhd (PNB) would be responsible for developing the land, focusing on affordable housing and the interests of the Bumiputera community.

Furthermore, the government plans to develop nearly 11 acres of government-owned land in Belfield, Kuala Lumpur. This project will yield at least 2,500 MADANI housing units, with 70 percent designated for Bumiputera buyers.

Additionally, the government has designated 50 acres of land in Kuala Lumpur as Malay reserve land, a step that previous administrations had not taken. Anwar noted that Petroliam Nasional Bhd (Petronas) has started developing the initial 10 acres to provide affordable housing.