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Govt Expects
To Revive One Third Of Abandoned Housing Projects
31/07/2009 Bernama
KUALA LUMPUR, July 31 (Bernama) -- The government Friday said that it
would at least revive one third of the 148 abandoned housing projects in
the country.
Minister of Housing and Local Government, Datuk Seri Kong Cho Ha, said
that the projects had affected more than 31,000 buyers.
He, however, noted that the number of abandoned projects was less than 0.9
percent of the 17,000 projects licensed by the ministry from 1990 until
now.
There are about 2.8 million houses under the 17,000 projects, he told
reporters after opening the Klang Valley MAPEX 2009 here.
Kong said the government was taking various steps to revive as many as
abandoned projects as possible.
However, he added that it will not be easy because a lot of abandoned
projects involved legal problems.
He said the projects would be revived through various ways involving
either the original developers or getting new developers to continue till
completion and delivery to the buyers.
The government is working closely with associations like the Real Estate
and Housing Developers Association Malaysia (REHDA) to complete the
projects, he said.
He also disclosed that some of the abandoned projects had already been
taken over by other developers, but declined to mentioned the number of
projects revived.
Kong also said the number of housing projects failure was less now with
the industry being more matured.
"Our statistics also show that the number of late deliveries over the
years have also reduced significantly," he added.
-- BERNAMA
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