The Johor state government has introduced several strategies to manage the anticipated increase in property values in Johor Bahru as a result of the Johor-Singapore Special Economic Zone (JS-SEZ). Johor Menteri Besar Datuk Onn Hafiz Ghazi highlighted that ensuring equitable benefits for all residents is a key challenge in the implementation of the JS-SEZ, particularly with the expected rise in real estate prices and cost of living.
โThe JS-SEZ is forecasted to drive up property values and living costs in nearby areas, posing difficulties for local residents, particularly those in the B40 and M40 income groups,โ said Onn Hafiz. โTo tackle this, we have implemented a policy that focuses on increasing the availability of affordable housing projects for Johoreans, particularly in the JS-SEZ vicinity.โ
Addressing Affordable Housing Needs
One of the central strategies involves ramping up affordable housing developments to ensure that local communities, especially those in lower and middle-income brackets, are not priced out of the property market. This policy is crucial for maintaining housing accessibility for Johoreans, particularly in high-demand areas impacted by the economic growth generated by the JS-SEZ.
Balancing Skilled Labour and Economic Disparities
In addition to housing, the Johor government also recognises the need to address the competition for skilled labour, as well as the risk of uneven development across the state. To combat these issues, the state has established the Johor Talent Development Council, aiming to create a skilled and competitive workforce capable of meeting the demands of the new economic zone.
Onn Hafiz stressed the importance of ensuring that development imbalances between urban and rural areas are mitigated. โWhile the JS-SEZ is expected to bring rapid development, Johor is committed to extending the benefits of this growth to other districts in the state for balanced and inclusive development,โ he stated.
By implementing these strategies, the Johor government is striving to ensure that the JS-SEZ will not only spur economic growth but also address key challenges to maintain balanced development and ensure affordable housing for all.
