SPNB revives 20-year-old
www.theedgedaily.com 05/01/2006 By Tamimi Omar
Syarikat Perumahan Negara Bhd (SPNB), a wholly owned subsidiary of the
Minister of Finance Incorporated (MOF, Inc) has acquired a 20-year old
abandoned housing project in Taman Sungai Pinang, Klang to revive at the
cost of RM1.16 million.
In a statement on Jan 5, SPNB said the Housing and Local Government Ministry
had requested SPNB to undertake and revive the project involving 17
“The house buyers of Taman Sungai Pinang had waited in vain for two decades
as the housing project was abandoned (in 1985) following financial and
management problems faced by the previous developer,” it said.
Developed on a 1.3-acre freehold site in Klang, the housing project consists
of 29 residential units.
However, SPNB said it was only responsible to rehabilitate 17 units as the
owners of those units had already received their individual titles.
“We have taken over this 80% completed project without any additional costs
loaded on the house buyers,” SPNB executive chairman Datuk Seri Tengku Adan
Tengku Mansor said.
He said the government had to absorb the deficit occurred in completing the
SPNB is currently reviving three stalled projects in Selangor at Taman
Kantan Permai (Phase I), Kajang, Bandar Pinggiran Subang, Shah Alam and
Taman Desaria, Petaling Jaya.
As instructed by the Housing and Local Government Ministry, SPNB’s ongoing
rehabilitation initiative comprise 176 abandoned housing projects, involving
51,413 units with an estimated value of RM4.3 billion