Work to resume on five stalled projects in KL

08/06/2004 Utusan Online

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 Committee.

Last Wednesday Isa had announced that his ministry had taken over the committee which was previously under the Prime Minister's Department.

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 said.

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.