Reviving sick projects

By AIDA AHMAD

Metro News
Wednesday, 14 Dec 2022

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Awaiting completion: The 500-unit Taman Selayang Mutiara (Kristal Apartments) housing project has been abandoned since February 2013. A new contractor has been appointed to revive the project. — SS KANESAN/ The Star

VARIOUS factors have contributed to the malady of abandoned or “sick” housing projects plaguing peninsular Malaysia, particularly Selangor.

These include the movement control order (MCO) restrictions when the Covid-19 pandemic started in 2020, labour shortage and rise in construction cost, according to Real Estate and Housing Developers Association Malaysia (Rehda).

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Zaini: Government agencies should work together to ease compliance policies which increase unit prices.

Tong says the government can help lower the prices of materials by waiving import levies temporarily.

Dr Mohamed Rafick proposes a pre-SPA Derivative Financial Contract to reduce risks to buyers.

The StarMetro story on Nov 28, 2022, on “sick” and abandoned housing projects in Selangor.

Tags / Keywords: sick , housing projects , property , Rehda

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Reviving sick projects