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Govt mulls escrow account to ringfence homebuyers’ payments

The Housing and Local Government Ministry (KPKT) said it is planning the setting up of escrow accounts for housing projects, in order to ensure payments by homebuyers are used exclusively for housing projects that they have bought.

DONE DEAL: Condominium, Menara Bukit Ceylon, Jalan Ceylon, Kuala Lumpur

Noteworthy:

  • Freehold
  • Built-up 1,400 size: sq ft
  • 2 bedrooms, 2 bathrooms
  • Floor level: Mid
  • Fully furnished
  • Nearby amenities: TERKL, Perdana Botanical Gardens, Pavilion Bukit Bintang, Plaza Low Yat, Tung Shin Hospital, Monorail Raja Chulan, MRT Bukit Bintang, Central Market, schools, Bursa Malaysia Stock Exchange Center
  • Accessibility: Jalan Maharajalela, Jalan Tun Perak, Jalan Pudu, Jalan Raja Chulan, AKLEH, Jalan Sultan Ismail, Jalan Imbi, Jalan Tun Razak

When: June 2024