SERI KEMBANGAN, 9 May: A total of RM20 million has been allocated through the ‘Abandoned Projects Restoration Fund’ or TEPAT Fund to restore and complete about 1,000 abandoned house.
The Chief Minister, Mohamed Azmin Ali, said that the project is being actively executed by the state government to ensure that the people and buyers can own and live in homes that they have purchased for years.
“The fund is part of the state government’s initiative in collaboration with local authorities to revive abandoned projects.
“Starting this year, four projects have been identified to be restored through the TEPAT Fund involving 956 low-cost housing units,” he said when handing the Certificate of Fitness for the Sri Indah Apartments today.
He said that 122 abandoned projects since the reign Barisan Nasional (BN) needs to now be borne by the state government.
It involves 32,000 housing units, including 113 housing projects and nine village expansion projects.
“Developers not having strong finances is among the causes of abandoned housing projects. This is a result of the previous administration giving the projects not based on ability but based on political affiliation.
“The impact on the buyers is that they have to pay off bank loans and high interest rates for years.
“At the same time, they have to pay rent for another house because the house purchased from the developer is not ready,” he said.
He said that in relation to that, the state government ensures that developers this time are of better quality and ensure that the developers comply with strict rules.
“We are tightening the procedure for issuing housing developer license so that they can truly complete their housing projects within the stipulated time.
“For the construction of affordable housing, it should be of better quality for the comfort of the people,” he said.
NS
