KPKT has revived 1,289 abandoned private housing projects involving 154,659 units worth RM123.7 billion, with RM25.84 million allocated in Budget 2026.
KUALA LUMPUR: The Ministry of Housing and Local Government has successfully revived 1,289 abandoned private housing projects since 2023.
Ministry secretary-general Datuk M Noor Azman Taib said the initiative involved 154,659 residential units with a gross development value of RM123.7 billion.
He revealed that 362 sick and delayed housing projects were revived this year alone.
“This is proof that when the government and industry work together, no project is impossible to save,” he said at the Real Estate and Housing Developers’ Association Malaysia annual dinner.
The government has allocated RM25.84 million specifically in Budget 2026 for abandoned project recovery.
“This proves the government’s determination in its efforts to resolve the plight of affected homebuyers,” he added.
As of September 30, 2025, a total of 501,033 affordable housing units are available nationwide.
Noor Azman described this as a significant achievement in the country’s history.
KPKT is currently progressing with amendments to Act 118 to align with current housing sector developments.
“The amendment will give more priority to the welfare of home buyers,” he said.
It will also strengthen developer governance and increase transaction transparency.
The changes will ensure housing projects are implemented more responsibly with consumer protection orientation.
Meanwhile, the country’s property market remains resilient in the first half of 2025.
Construction activities continue to record growth despite a slight decline in transaction performance.
The National Property Information Centre reported 196,232 real estate transactions in the first half of 2025.
This represents a 1.3% decrease compared to the same period last year.
Transaction value, however, increased by 1.9% to RM107.68 billion. – Bernama
