93 housing projects revived
13/05/2006 The Star
KUALA LUMPUR: New developers managed to salvage 93 out of 261 abandoned
residential projects in 15 years, according to the Housing and Local
The ministry’s director of monitoring and enforcement Dr G. Parameswaran
said the 261 projects involved 88,000 housing units valued at more than
Of the remaining 168 abandoned projects, 149 were deemed possible to be
revived, he added.
Among the reasons behind the abandonment, he said, were financial snags,
poor marketing and sales strategies, squatter issues, developer crises and
problems involving contractors and landowners.
To prevent future housing projects from being abandoned, he said, the
ministry has tightened procedures for issuance of housing development
The ministry has also stepped up monitoring of projects and is scrutinising
developers' financial health, Parameswaran added.