THERE are 429 “sick” housing projects involving 29,147 buyers nationwide as of Jan 31 this year.
Local Government Development Minister Nga Kor Ming said the figure comprised 70,727 housing units.
Sick housing projects are defined as projects that were delayed by more than 30% compared to their scheduled progress or whose sales and purchase agreements (SPA) have lapsed.
Nga said the government would issue support letters to help those who bought sick projects in their applications to restructure loans that they had taken.
He said the ministry has come up with several measures to address the issue, among them publicising housing projects whose SPA has lapsed on the National Housing Department website.
Other measures include freezing the Housing Development Account for sick projects and blacklisting developers and their boards of directors from applying for advertising permits.
In a written reply to Khoo Poay Tiong (PH-Kota Melaka), Nga also said the ministry has set up a task force on sick and abandoned projects to address the issue.
“The government is always making holistic efforts in identifying and resolving sick and abandoned projects by involving the industry players to obtain their views and ideas,” he added.
