The Housing and Local Government Ministry’s special taskforce has successfully revived 1,044 sick and abandoned private housing projects across the country.
Minister Nga Kor Ming said the projects, worth RM100.1bil, have benefited nearly 125,000 homebuyers.
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Minister Nga Kor Ming said the projects, worth RM100.1bil, have benefited nearly 125,000 homebuyers.
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NewsTranscript
00:00In the past two years, KPKT has worked relentlessly to solve the sick and abandoned private housing projects.
00:11And we are pleased to inform the public that after two years of hard work,
00:17Special Task Force has solved 1044 sick projects which amounting to a whopping 100.1 billion worth gross development values project.
00:33By doing so, we have actually saved nearly 125,000 innocent buyers that finally their home is delivered to them.
00:46This includes most of the sick projects under Prima in the past.
00:51I inherited about 34 sick projects by Prima.
00:56So as at today, we have soft 31. Only three more to go.
01:01And I am pretty confident by end of this year, Prima will have no more sick projects.
01:09We can open a new chapter and start afresh.
01:12We have seen so many dilapidated, poorly maintained, even dangerous aging building,
01:22which is not fit for human settlement anymore.
01:26So if you try to politicize the issues, the biggest losers will be the B40 families, regardless of race, religion or their background.
01:38So we mean well, and to those who purposely politicize the issue, please ask your conscience.
01:47Before you want to object, I have offered to offer them free flat.
01:53For those who are politicians who try to politicize the issue, we strongly advise them to bring their family to stay at the poorly maintained dilapidated flats before they try to politicize and sacrifice the public interest.
02:12Now, under 1966 Housing Development, Controlling and Development Act, what we call it Act 118, the scope of the Act is simply too narrow.
02:28It only regulate housing industry, but it does not regulate other categories of properties.
02:35Everyone knows that.
02:37Now, in this modern era, real estate properties doesn't mean housing per se.
02:43It comprises many categories of properties, including shoplops, Soho, Soho, Business Suics, Service Apartment, etc.
02:56So therefore, KPKT is working with RADA and other NGOs as well.
03:04We are now contemplating to introduce the first ever Real Property Development Act, which will cover many other aspects, not only home, not only housing, but also other properties.
03:18Because we believe that if it is well regulated, like what already happened in many countries, one, for instance, Australia.
03:28They already have this Act.
03:30We, this is the time after 70 years of independence by 2027.
03:38It is also important for our real estate industry to evolve to a more modern, comprehensive, and people-centric industry.
03:53Thank you very much.