KUALA LUMPUR: The government will continue to give license for projects approved by to estates despite the who-hopping RM29 billion surplus of properties in the market.

Deputy Housing and Local Government. Minister Datuk Dr Peter Chin Fah Kui said' yesterday that they had been no cabinet directive so fat to halt development projects.

"In terms of projects approved, the ministry will continue to give license because the local and state authorities are basically approving the projects he said after launching the 2003 Malaysian Surveyor's Conference here on behalf of Housing an Local Government minister Datuk Seri Ong Ka Ting.

When approved (by the state) arid the developer has obtained the approval, they come to the ministry for, license. "If they comply with the license conditions we will approve it unless directed other wise by the cabinet has not made any decision ,"had said.

The National Property Information Center (Napic) disclosed that at the end of last year the combined va1ue of property overhang was RM29.15billion an increase from RM27 billion the previous year.

On June 9, at the 2004 Budget dialogue, Prime Minister Datuk Seri Dr Mahathir Mohamad directed state governments and local authorities not to approve projects indiscriminately to avoid imbalanced development.

His call came after he unveiled the RM7.3 billion stimulus package to perk up the economy on May 21. Chin said there were some views that the overhang might not be as great as portrayed by Napic ."We are now checking the extent of the problem so that we can advise the cabinet "he said.