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Need solution to treat ‘sick’ housing projects

Publish date: Fri, 24 Mar 2023, 09:13 AM

A TOTAL of 115 housing projects comprising 24,525 units have been abandoned in Peninsular Malaysia as at Jan 31, says Deputy Local Government Development Minister Akmal Nasrullah Mohd Nasir.

This affects 14,206 buyers.

“Of the 115 projects, 47 of them are currently in the planning stage to find a mechanism to revive them through mutual resolution between developers and buyers.

“Another 45 projects are already in the recovery stage while another 23 projects are currently static due to legal issues,” he told Chong Zhemin (PH-Kampar) in the Dewan Rakyat yesterday.

Chong had asked about abandoned housing projects and their gross development value (GDV).

Akmal Nasrullah said the total abandoned projects involved a GDV of RM7.67bil based on the average price of housing units in accordance with the purchase agreement.

He also said the government was committed to finding more focused and strategic approaches towards “sick projects” through the establishment of a task force.

“The task force will do fact-finding and due diligence to figure out the best ways to resolve private housing issues that are complicated,” he added.

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