Malaysia Revives 371 Stalled Housing Projects with RM44.59bil GDV, Reports Deputy Minister

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TFST revives 371 housing projects from January to September, totaling RM44.59 billion GDV. Ministry considers extending key appointments to accelerate recovery of 113 abandoned projects.

Kuala Lumpur, 28th Oct 2024, 02.21pm – Between January and September, the Task Force on Sick and Abandoned Private Housing Projects (TFST) successfully revived 371 projects, covering 46,139 housing units with a total gross development value (GDV) of RM44.59 billion.

Deputy Housing and Local Government Minister Datuk Aiman Athirah Sabu reported that 348 of these projects had obtained the Certificate of Completion and Compliance (CCC). Additionally, 17 delayed projects resumed smoothly, while six abandoned projects were successfully revived through project completion and buyer settlement methods.

“Among the overall achievements, 25 projects, totaling 4,813 housing units, were successfully revived just in September, with a GDV of RM18.08 billion,” the minister shared in a Friday statement.

Over the past nine months, TFST monitored 303 delayed projects, 379 classified as “sick,” and 113 abandoned projects. Aiman Athirah emphasized that site visits and close monitoring are essential to track progress, allowing issues with local authorities, technical agencies, and utility providers to be promptly addressed to find optimal solutions.

The minister stated that the ministry is also looking into extending the appointments of the Selangor Housing and Property Board, Perak Housing and Property Board, Terengganu State Economic Development Corporation, and Indah Water Konsortium Sdn Bhd to speed up the recovery of the 113 abandoned projects.

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