The Penang government’s offer of optional 99-year leasehold extensions and premium discounts has been warmly received by leaseholders in Kampung Valdor, Nibong Tebal.

During a dialogue session with Chief Minister Chow Kon Yeow, Bukit Tambun assemblyman Goh Choon Aik, and state Land and Mines officials, attendees expressed their satisfaction with the explanations provided regarding the eligibility and benefits of lease extensions.

Chow highlighted that leaseholders could choose extensions ranging from 30 to 99 years, with premium discounts of up to 90% based on current land values.

“We are committed to addressing leaseholders’ concerns and ensuring they benefit from this initiative,” Chow said, encouraging leaseholders to act quickly to take advantage of the significant savings.

The premium discounts apply to various land use categories, including agricultural, residential, commercial, and industrial lands.

Goh added that he would gather applications from leaseholders after Chinese New Year and submit them to the relevant authorities.

“We expect a strong response from leaseholders eager to benefit from this opportunity,” he said.

This initiative, officially announced in 2023, aims to support Penang residents while ensuring fair and sustainable land management.