The Kedah state goverment has decided to rent the Pekan Rabu complex site to Koperasi Pekan Rabu for a 30-year lease after managing it since 2004.
Chief Minister, Azizan Abdul Razak, said that it is only right that Pekan Rabu gets state goverment’s help and support since it is the pride of the state. As Kelantan is known for its Pasar Siti Khadijah and Terenganu for its Pasar Payang, like so, Pekan Rabu is to Kedah.
He also said he hoped that this is good news to Koperasi Pekan Rabu and that it is the beginning of a smart arrangement between the state government and the latter.
He further said, the rent rate has yet to be decided and will be announced in the near future. He believes that the value of the land in that area shot up because it is located in the heart of the city.
This decision was not motivated by profit and the state government is ready to bare even a slight loss as it’s their social responsibility to the traders.
Pekan Rabu was initially rented to Majlis Amanah Rakyat (MARA) prior to being taken over by the state goverment in 2004. It houses over 400 traders with a wide range of items from clothes to food in its over 3,000 square meters site.