News & Articles KPKT: Over 125,000 homebuyers nationwide are impacted by sick or abandoned projects
KPKT: Over 125,000 homebuyers nationwide are impacted by sick or abandoned projects
22 Mar 2023
Housing projects in Malaysia that are sick or abandoned is having an impact on some 125,000 homebuyers, according to Akmal Nasrullah Mohd Nasir, the deputy minister for local government development.
He said that as of January 31, 2023, over 1,000 housing projects - including 437 ill projects and 115 abandoned projects - had encountered difficulties.
A sick project is one whose schedule progress has been delayed by more than 30 per cent, or whose sale and buy agreement has expired.
In order to prevent these issues from reoccurring, Akmal Nasrullah said that the Local Government Development Ministry (KPKT), through a special committee, is attempting to address the issues that homebuyers and housing developers are having.
Akmal stated he would do it himself.
Akmal Nasrullah said he will personally chair this committee, where the monthly data regarding the issues faced will have to be dynamic with progress to resolving it.
"For example, at the developer level, if there are issues with delays in approvals from local authorities, we will assist in expediting the process or feedback. This is to ensure the status of the projects does not deteriorate, which will result in the government being forced to interfere, something that we wish to avoid," he said after his keynote speech at the Rehda Institute Regional Housing Conference 2023 here, today.
He said housing developments are the responsibility of the developers, and the government's job is to oversee and ensure their completion.
He said that as of January 31, 2023, over 1,000 housing projects - including 437 ill projects and 115 abandoned projects - had encountered difficulties.
A sick project is one whose schedule progress has been delayed by more than 30 per cent, or whose sale and buy agreement has expired.
In order to prevent these issues from reoccurring, Akmal Nasrullah said that the Local Government Development Ministry (KPKT), through a special committee, is attempting to address the issues that homebuyers and housing developers are having.
Akmal stated he would do it himself.
Akmal Nasrullah said he will personally chair this committee, where the monthly data regarding the issues faced will have to be dynamic with progress to resolving it.
"For example, at the developer level, if there are issues with delays in approvals from local authorities, we will assist in expediting the process or feedback. This is to ensure the status of the projects does not deteriorate, which will result in the government being forced to interfere, something that we wish to avoid," he said after his keynote speech at the Rehda Institute Regional Housing Conference 2023 here, today.
He said housing developments are the responsibility of the developers, and the government's job is to oversee and ensure their completion.
Source: NST.com.my
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