Housing developers' contracts will be revoked if projects not completed
NST 29/04/2002

April 27: THE Pahang Government will revoke the contracts given to five private housing developers to build low-cost houses under the cross- subsidy programme if they fail to complete the projects.

 
The five are Esplanade Marina Sdn Bhd, OCH Properties Management Sdn Bhd, J&S Holdings Sdn Bhd, Doyenvest (M) Sdn Bhd and Nova System SdnBhd.

Menteri Besar Datuk Seri Adnan Yaakob however said if the companies completed the projects on scheduled, they would be awarded with land to implement other development projects to recover any losses incurred from building low-cost units.

If the five companies fail to complete the low-cost housing projects, we will appoint other companies with the ability and capability to continue with the project.

The land titles now under the names of the five companies will also be canceled before the titles are given to other companies willing to continue with the projects, he said.

He was replying to Mohd Iqbal Hamdy Mohd Rusdi (Pas-Kuala Pahang).