resume on five stalled projects in KL
PUTRAJAYA June 7 - Work on five out of 38 stalled property
development projects in Kuala Lumpur may resume, Federal Territory
Minister Tan Sri Mohamed Isa Abdul Samad said on Monday.
"The five projects have been identified as having the potential to
be reactivated," he said.
Another five projects had been completed while nine others were
under construction, Isa said.
"As for the remaining 19 projects, which are being postponed, we are
in discussion with the appointed consultant to find a solution," he
said after chairing the inaugural meeting of the Abandoned Projects
Last Wednesday Isa had announced that his ministry had taken over
the committee which was previously under the Prime Minister's
Isa said one of his ministry's immediate steps was to appoint a team
of consultants to identify and reactivate abandoned projects.
These included joint-venture commercial development projects between
developers and Kuala Lumpur City Hall (DBKL).
The total value of such projects, which included apartments, office
complexes, hotels and shopping centres, amounted to RM2 billion, he
He added that work on the nine reactivated projects could resume
after a redevelopment order issued by DBKL permitted each project to
change its original form or type.
This was to ensure that the project when completed would be
commercially viable, he said.
Most of the developers involved, said Isa, had given their
cooperation by giving the necessary information and notifying the
ministry of any problems related to their projects.
"However, we are also aware that a project developer has gone
missing," he said.