With some projects abandoned for 30 years, Housing and Local Government Minister Zuraida Kamaruddin revealed plans to form a task force that would oversee abandoned housing and commercial projects in Malaysia.
“There were 297 abandoned projects and 198 of them had been solved,” she said.
She noted that most of the 99 abandoned projects are scattered around Selangor.
“We will see how to speed up the process of handling these abandoned projects, whether it means taking over the projects or giving them to another developer to redevelop.”
Zuraida, however, did not say if the developers of the abandoned projects would be fined or on how the ministry would handle the projects in case it takes over such projects, reported Malay Mail.
“I am still studying the available policies to see how we can take the next step,” she said.
Image sourced from Malay Mail
This article was edited by the editorial team of PropertyGuru. To contact them about this or other stories email email@example.com
Those who want to learn more about the property market, read up on Property Market Insights.