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51 more abandoned housing projects left

KUALA LUMPUR: There are still 51 out of 151 abandoned housing projects identified by the government that are awaiting to be saved by "white knights", said Housing and Local Government Minister Datuk Wira Chor Chee Heung.

Of the remaining abandoned developments, 45 housing projects have been revived and 50 more were undergoing the rehabilitation process, Chor told reporters after delivering his keynote address at the 13th National Housing and Property Summit organised by the Asian Strategy and Leadership Institute (Asli) on Thursday, July 29.

Last December, it was reported that 12 housing projects had been abandoned, while 90 were undergoing rehabilitation. Another 46 were awaiting restoration.

He added that the ministry had not yet dipped into the RM200 million set aside to revive these housing projects.

"We will use these funds to top up (to cover the cost) for reviving the housing schemes," he said.

When asked to comment on Petaling Jaya Utara member of parliament Tony Pua's proposal to scrap bumiputera discounts for homes priced RM500,000 and above, Chor said MCA president Datuk Seri Dr Chua Soi Lek had already discussed this issue with the party.

He noted that Chua had raised this issue two weeks before Pua did.

Chor said that it would be a "good idea" to look for bumiputeras who were willing to waive the discounts in purchasing homes priced at RM1.5 million or more.

"We have to look at the statistics, and find out how many bumiputeras are unable to afford homes," he said.

On the real estate market, he said the ministry did not foresee prices rising high enough to form a bubble.

"The government does not have to control the price," he said.

He also sought to remind purchasers to practice more restraint in transacting properties and be more realistic, given the higher upside in real estate.
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