KPKT has revived 1,333 delayed and abandoned private housing projects, protecting buyers and restoring confidence in the sector through strict enforcement
KUALA LUMPUR: The Ministry of Housing and Local Government has successfully revived 1,333 delayed and abandoned private housing projects as of October 31.
These projects involve 159,638 residential units with a gross development value of RM126.47 billion.
Deputy Minister Datuk Aiman Athirah Sabu said the move was taken to safeguard buyers from losses and restore confidence in the private housing sector.
“To ensure developers take this issue seriously, the ministry has taken stern action, including prosecution, compounds and blacklisting,” she told the Dewan Rakyat.
She was responding to a question on government actions to address abandoned projects affecting first-time buyers.
Blacklisted developers are barred from applying for new project licences or sales permits.
A list of problematic projects is also displayed on the KPKT portal for buyer reference.
Aiman Athirah added that the Housing Development Act 118 is being improved to ensure more disciplined financial management.
This aims to reduce the risk of future abandoned projects.
On affordable housing, she cited poor credit records and high household debt as key loan approval hurdles.
To help the B40 and M40 groups, the government offers financing guarantees up to RM500,000 via the Housing Credit Guarantee Scheme.
A rent-to-own scheme in seven states has enabled 6,958 families to own homes.
The Home Ownership Campaign 2.0 and tax relief up to RM7,000 have also eased the burden for first-time buyers.
These initiatives form part of a comprehensive strategy to make affordable housing more accessible. – Bernama
