SPNB Revives 62 Problematic Housing Projects

01/07/2006 Bernama

SEREMBAN, July 1 (Bernama) -- Syarikat Perumahan Negara Berhad (SPNB) has successfully revived 62 abandoned housing projects all over the country since 2003 with a RM300 million allocation.

SPNB's General Manager (Project Implementation) Ahmad Azizi Ali said about nine projects fully rehabilitated solely using the federal government funds.

While in the remaining 53 projects, SPNB assisted by providing advisory services and the cost was borne by the developers.

"SPNB is currently reviving the 12 housing projects identified by the Housing and Local Government Ministry," he told reporters at the agreement signing ceremony on the revival of the Phase 1C Taman Senawang Jaya here, that was abandoned since the last 23 years.

Also present was the State Housing and Local Government Committee Chairman Datuk Woo Ah Lek.

He said 70 to 80 percent of the projects abandoned due to cash flow problems on the developers' part.

The Phase 1C of Taman Senawang Jaya, consisting of 96 single storey houses, costing up to RM7 million will start within four months.

They buyers would not be burdened by additional cost.

-- BERNAMA