Govt to prevent land speculation

The government will protect landowners’ rights, but seek to prevent speculation as a result of land procurement for development projects, as shown by the new draft bill on land procurement in the  public interest.

There are five priorities highlighted in the draft bill, including ensuring the smoothness of land procurement for public interest; protecting the right of landowners;  preventing land speculators, following world best practices; and scrutinizing the history of land procurement in the country, according to head of National Land Agency (BPN), Joyo Winoto.

“There will be heavy sanctions [for speculators]. Speculations should be prevented by the law,” Joyo said at the state palace Wednesday, without elaborating.

He said speculators’ request of  hefty compensation might cause original landowners and the government financial losses when the government want to acquire land for development.