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Govt Expects To Revive One Third Of Abandoned Housing Projects
31/07/2009 Bernama

KUALA LUMPUR, July 31 (Bernama) -- The government Friday said that it would at least revive one third of the 148 abandoned housing projects in the country.

Minister of Housing and Local Government, Datuk Seri Kong Cho Ha, said that the projects had affected more than 31,000 buyers.

He, however, noted that the number of abandoned projects was less than 0.9 percent of the 17,000 projects licensed by the ministry from 1990 until now.

There are about 2.8 million houses under the 17,000 projects, he told reporters after opening the Klang Valley MAPEX 2009 here.

Kong said the government was taking various steps to revive as many as abandoned projects as possible.

However, he added that it will not be easy because a lot of abandoned projects involved legal problems.

He said the projects would be revived through various ways involving either the original developers or getting new developers to continue till completion and delivery to the buyers.

The government is working closely with associations like the Real Estate and Housing Developers Association Malaysia (REHDA) to complete the projects, he said.

He also disclosed that some of the abandoned projects had already been taken over by other developers, but declined to mentioned the number of projects revived.

Kong also said the number of housing projects failure was less now with the industry being more matured.

"Our statistics also show that the number of late deliveries over the years have also reduced significantly," he added.

-- BERNAMA

 

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