A prospective "white knight", which has kept his identity anonymous, has surfaced through a representative to try to revive the project, which has affected 290 investors, some, of whom who have parted with their money since 1995.

Members of the Villaria PJ House buyers Committee, led by its chairman Amir Harjeet Abdullah, met the interested party for about an hour on Monday evening. Amir told the Sun that the committee had started contacting all the affected buyers to brief them on the details of the meeting.

Work on the condos and shops halted in 2003 and 1998, respectively. The condos were launched in late 1998.while the shops were put on the market in 1995. Both projects, sitting on about two acres of land, are developed by TD Management Sdn Bhd, a subsidiary of Anson Perdana Bhd which, was delisted from the local bourse last year. Alison Perdana Property Services Sdn Bhd managed the condo project. It is believed that Villaria PJ is about 70% to 75% completed while the shops were about 90% completed when work stopped.

Villaria PJ features as Phase 6A of the 129-acre Taman Desaria development, which, in 1992, also saw sale of industrial land.

It is understood that the developer had completed phases 1 to 5, comprising a total of 580 units of low-cost flats, 20 shops, 2-storey link houses and 4-storey shop offices.

Amir said Villaria P J comprises two 19-storey blocks of 3-bedroom medium-cost apartments, which were sold for RM11, 000 to RM150, 000. There were 26 units of abandoned shops 14 units of I-storey low-cost type (RM60, 000 to RM80, 000) and 12 units of 2-storey type (RM328, 000). Of these, 23 units were believed to have been sold. It is understood that the preference to buy the low-cost shops has been given to squatters as part of a squatter resettlement scheme in the area.

Apparently, this is not the first time a prospective white knight has surfaced. According to Amir, that proposal, however, had been turned down by the receiver and manager, Datuk Gan Ah Tee, who was appointed by the bridging financier, Affin Bank, in September 2003.

Amir said one of the proposed terms and conditions of the party who was interested in reviving the project was to get a waiver on the liquidated ascertained damage (LAD) or late charges, which had to be borne by the developer for late delivery of the project.

The exact quantum of the LAD for the condos and shops was not immediately known, but those familiar with the project put the figure close to RM7 million.

Amir said the Villaria PJ House buyers Committee would try to get the Kelana Jaya Member of Parliament Loh Seng Kok, who had played an active role in the past to help revive the two abandoned projects, to attend the coming meeting with the prospective white knight. Those who wish to contact the committee can call Amir at 017-608 5325.