Summary
- Draft RSNPP 2040 proposes stronger Bumiputera participation in housing, jobs and business.
- At least 30% Bumiputera quota proposed for housing, commercial and industrial developments.
- Bumiputera home ownership targeted at 85% by 2040.
- Selected professional participation targeted to rise from 18% to 50%.
- Developers could face tighter rules when releasing unsold Bumiputera quota units.
GEORGE TOWN, August 17 – Penang’s draft State Structure Plan 2040 proposes new targets covering Bumiputera home ownership, high-value jobs, businesses and property development.
Under the draft, at least 30% of housing, commercial and industrial developments would be allocated under the Bumiputera quota, with a minimum 5% discount for quota units.
Bumiputera home ownership is targeted to rise from 73.1% in 2024 to 85% by 2040. The plan also targets more than 30% Bumiputera participation in high-value jobs.
While participation in selected professions is targeted to increase from 18% to 50% by 2040. For property developers, the draft proposes progressive contributions of 5%, 7.5% and 10% for repeated releases of Bumiputera quota units.
The proposals remain part of the draft RSNPP 2040 and should not be treated as policies already implemented.
