Prime Minister Anwar Ibrahim said 50 acres of land in Kuala Lumpur will be allocated to Yayasan Pelaburan Bumiputra for development, taking into account the need for affordable housing. (Envato Elements pic)

PETALING JAYA: The government will provide 50 acres of strategic land in Kuala Lumpur, valued at RM1 billion, as a new endowment to Yayasan Pelaburan Bumiputra (YPB).

Prime Minister Anwar Ibrahim said the land would be allocated to YPB for development by Permodalan Nasional Berhad (PNB), taking into account the need for affordable housing and the interests of the Bumiputera community.

Tabling the 2027 budget, Anwar said the first endowment to YPB was RM200 million in 1978, with no further endowments provided since 1981.