PETALING JAYA: The Housing and Local Government Ministry has revived a staggering RM98.96 billion worth of abdandoned housing projects, marking a significant milestone in Malaysia’s push to restore investor confidence and uplift the construction sector.
Minister Nga Kor Ming said that 1,016 abandoned housing projects comprising 122,083 units have been brought back to life since the establishment of the Task Force on Sick and Abandoned Private Housing Projects in late 2022.
“The ministry’s proactive approach, through tighter coordination with developers, financial institutions, and local authorities, has not only accelerated project recovery but also helped stabilise the broader property market, offering renewed assurance to both domestic and foreign investors,” he said at the International Strata Symposium 2025 today.
Nga disclosed that the ministry is preparing to introduce a new Act focused solely on the property management industry, a sector currently regulated only as a subset of broader laws.
“With just 594 licensed property management firms serving over 2.9 million strata units nationwide, the upcoming legislation is expected to fill a critical vacuum and create a more professional, accountable strata management ecosystem.
“This will be a game-changer,” he said, noting that unregulated and inexperienced joint management bodies have become a root cause of poor building maintenance, disputes, and resident dissatisfaction.
Furthermore, he noted that the ministry has stepped up regulatory enforcement.
“As of March 2024, 109 developers have been blacklisted, with RM10.28 million in compound fines issued for non-compliance with Housing Development Act provisions. This sends a clear message: we will no longer tolerate developers who fail their obligations.
“The blacklist, which is publicly accessible via the National Housing Department’s portal, is part of KPKT’s (ministry’s) broader effort to improve transparency and accountability in the housing sector,” he said.
Positioning Malaysia as a forward-looking leader in sustainable development, Nga announced that the country is bidding for a seat on the executive board of the United Nations Human Settlements Programme (UN-Habitat), a key global body shaping the future of urbanisation.
“As current Chair of the Asean Ministerial Meeting on Housing and Urban Development (AMMHUD), Malaysia is not only influencing regional policy but also seeking a stronger voice at the international table.
“Malaysia’s urban population is expected to reach 88% by 2050, making global collaboration and innovation essential.
“Malaysia is ready to contribute to the world’s urban future – from smart cities to inclusive housing policies,” Nga said, adding that participation in global platforms would allow Malaysia to export its policy ideas, attract partnerships, and benchmark against world-class standards.
Malaysia is ready to contribute to the world’s urban future, from smart cities to inclusive housing policies, he said.
“Our participation in global platforms will help us share our policy ideas, form new partnerships, and align with world-class standards.
“At the ministry, we are aiming to table the Urban Renewal Act or Akta Pembaharuan Semula Bandar this June. The bill consists of four key elements – urban redevelopment, urban regeneration, urban revitalisation and urban conservation. “Our utmost priority is to ensure a structured and inclusive approach to development, in line with our principle of ‘leave no one behind’,” Nga said.
