Defence Minister Datuk Seri Ahmad Zahid Hamidi said the new development area will be known as "City of Malaysia" and will be jointly developed by Middle Eastern investors including the Qatar Investment Authority and 1Malaysia Development Bhd.
"We have decided to move the Royal Malaysian Air Force (RMAF) airbase now occupying the land to another area, which will be announced by the Prime Minister at a later date. We are not sure when the move will take place yet. But they will be moving lock, stock and barrel to a new location," he told a press conference after presenting the 50 keys to new homeowners by the Lembaga Tabung Angkatan Tentera (LTAT) in Bukit Jalil, Kuala Lumpur yesterday.
He added that LTAT will not have any stake in the new commercial development that is to take place at the Sungai Besi airport.
"We are also not sure when they (LTAT) are going to move out. All these things are being ironed out. But moving is not a problem because LTAT has enough landbank for relocation," Ahmad Zahid said.
He said the 460ha land is owned by the federal government through an entity know as "Perusahaan Tanah Persekutuan".
Meanwhile, Ahmad Zahid said delivery of the Airbus A400M has been delayed to 2015.
Malaysia had placed its order in 2005 for the four planes originally due to be delivered in 2013.
"Because they will be delivered at a later date, we are allowed to defer our payment. If not, the progressed payment was supposed to start this year," he added.
By Business Times
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