MIRI: The solid stand by Chief Minister Datuk Patinggi Tan Sri Adenan Satem on maintaining the lease period for land with perpetuity title has been commended.
Local businessman Anthony Ling praised Adenan for his wisdom in making that decision to encourage realty development across the state.
Such decision brings much relief to us, Ling told The Borneo Post yesterday.
Last year, the chief minister decided against changing the tenure of land leasing period.
If the period is 999 years, the conversion would remain 999 years. It its 99 years, it would be converted to 99 years. No change this is to encourage realty development, Adenan was quoted as having said at the launch of MetroCity Square in Kuching last year.
On this, Ling remarked: With the (lease) term being maintained, it would give the owners and their future generations all the advantages and benefits from their land.